JMS raise Aquaamerica rating to buy

On the evening of May 19 in Beijing, a Wall Street analyst announced a rise in the stock rating of the public water and sewer company Aqua America Inc., citing the company's first-quarter performance and the recent sharp decline in its share price. Analysis on the Montgomery Scott of the securities firm Janney Coy (Debra Coy) announced that the stock rating for Aqua America would be upgraded from "neutral" to "buy".　　In a report to clients, she wrote that the encouraging first-quarter results "show that the company is expected to return to a strong profit growth this year". Earlier this month, Aqua America, headquartered in Bryn Mawr, Pennsylvania, announced that profits in the first quarter rose 28% per cent to $18.4 million and 14 cents a share. The company's profits were $14.3 million a year earlier, with 11 cents a share.　　Total quarterly revenues rose 11% from 139.3 million to $154.5 million.　　Wall Street analysts surveyed by the Thomson-Reuters average expected that Aqua America would make 14 cents a share in the first quarter, with a revenue of about $150.8 million. The company says she expects Aqua America to make 81 cents a share this year, up 11.5% from 08, a year-on-year increase of more than 10% per cent for its first annual profit in the past four years.　　As for the outlook for fiscal year 2010, it expects Aqua America to earn 86 cents per share. Market analysts are now averaging that Aqua America will make 84 cents a share this year, with a 2010 fiscal 92 cents.　　So far, Aqua America has not released its forecast for the year's results. Coy said: "The recent completion of the North Carolina and Florida fee hike should help Aqua America's southern sector return to normal orbit, while the strategically focused capital spending plan will continue to drive future performance growth." "The analyst also said that in the past week, Aqua America's share price has fallen by 10%, while the same shares fell by only 4% to 5% per cent over the same period, falling 18% per cent since April, from about 20 dollars in early April to $16.38 at yesterday's close. Coy that the above situation indicates that "now is the time for investors to buy."　　The target price set for the Aqua America stock is still 19 dollars, he reiterated. As of Tuesday East 11:20 (Beijing time Tuesday 23:20 P.M.), Aqua America's shares on the New York Stock Exchange rose 12 cents to $16.50.