B of A Securities Maintains Underperform on Spire, Raises Price Target to $55
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Julien Dumoulin-Smith has maintained an Underperform rating on Spire (NYSE:SR) but increased the price target from $53 to $55. This suggests that while the analyst sees some potential for the stock, they still believe it will underperform the market.
November 28, 2023 | 6:50 pm
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B of A Securities analyst has reaffirmed an Underperform rating on Spire but increased the price target from $53 to $55, indicating a slightly more positive outlook yet still bearish on the stock's performance.
The increase in price target to $55 from $53 by B of A Securities reflects a minor adjustment in valuation, possibly due to updated company metrics or market conditions. However, the Underperform rating indicates that the analyst believes the stock will not keep pace with the broader market. This could lead to a negative short-term impact on the stock as investors may perceive the rating as a bearish signal, despite the slight increase in the price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100