Raymond James Maintains Outperform on SM Energy, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst John Freeman has maintained an Outperform rating on SM Energy (NYSE:SM) but has reduced the price target from $53 to $45.
January 08, 2024 | 5:56 pm
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Raymond James maintains an Outperform rating on SM Energy but lowers the price target from $53 to $45, indicating a potential downside compared to the previous target.
The reduction in price target by Raymond James suggests that while the firm still believes SM Energy will outperform, they have adjusted their expectations for the stock's future price level downwards. This could lead to a negative short-term reaction in the stock price as investors adjust to the new target.
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