...We expect the residential construction end market to rebound modestly in 2021; however, we expect the municipal end market to remain challenged going forward. The need for spending on aged water infrastructure and rebound in residential construction will likely increase Mueller Water Products Inc.'s topline in 2021. With shelter-in-place restrictions lifted, and mortgage rates at historic lows, we believe that residential construction activity could continue to improve in 2021, which will benefit the Infrastructure segment. We anticipate that the project-related portion of the municipal water market will remain challenging as state and local governments update their budgets and adjust to lower tax receipts, and as a result, new projects could be pushed out further. In our opinion, Mueller's Technologies segment will continue to face headwinds, since Technologies has a higher portion of project-related business. Decent pricing will help offset sluggish volumes. We expect the company to maintain...
