Mizuho Maintains Neutral on New Jersey Resources, Lowers Price Target to $47
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Gabriel Moreen has maintained a Neutral rating on New Jersey Resources (NYSE:NJR) but has lowered the price target from $49 to $47.

November 20, 2023 | 3:36 pm
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NEUTRAL IMPACT
Mizuho has maintained a Neutral rating on New Jersey Resources but reduced the price target from $49 to $47, indicating a potential limited upside or downside.
The reduction in price target by Mizuho reflects a more conservative valuation of NJR, which could lead to a tempered investor response. However, since the rating remains Neutral, the immediate impact on the stock price may be limited. The importance is significant as price target changes by analysts can influence market perception, but the Neutral rating suggests no strong directional change is expected.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100