California Water Service (CWT) Soars 3.79% on Upgrade, Capital Investments

California Water Service (CWT) shares surged 3.79% today, marking the third consecutive day of gains, with a total increase of 6.56% over the past three days. The stock price reached its highest level since December 2024, with an intraday gain of 4.23%.

Seaport Research recently upgraded California Water Service (CWT) from Neutral to Buy, setting a price target of $54. This upgrade reflects positive sentiment and could influence the stock price. The firm's decision to upgrade the stock is likely based on the company's strong financial performance and growth prospects.

California Water Service Group has announced significant capital investments, with $471 million spent in 2024 and plans for nearly $660 million. These investments are aimed at improving the company's infrastructure and operational efficiency, which could enhance its long-term growth prospects and resiliency. The company's focus on capital expenditures is a positive sign for investors, as it demonstrates a commitment to maintaining and improving its assets.