United Utilities a New Year.

tHE OFFICIAL eps IS DISTORTED from that which would derive from accounting according to the regulatory structure; so the p/e and div cover stats are better than they show. Low price coz people don't understand/believe this I think.

My taRGET HAS LONG BEEN "£8-£10". When I first said that the £8 looked impossibly high. But if you add back the 14p div we are there!

Incidentally, if anyone thinks the RNS caption "Directorate Change" seems an unfeeling one for a death, the LSE only allows certain prescribed wordings.