RBC Capital downgrades Mueller Water Products to Underperform, sets price target to $21
RBC Capital downgraded Mueller Water Products to Underperform with a $21 price target, implying a 7.7% downside. The firm expects a decline in municipal water spending in 2027 due to expiring federal funding, which could hurt the company's revenue. Additionally, residential construction challenges may further limit growth, as this sector accounts for 25%-30% of the company's revenue.


