Keybanc Maintains Overweight on SM Energy, Lowers Price Target to $51
Portfolio Pulse from Benzinga Newsdesk
Keybanc analyst Tim Rezvan has maintained an Overweight rating on SM Energy (NYSE:SM) but has reduced the price target from $56 to $51. This adjustment reflects a more conservative valuation of the company's stock by Keybanc.
January 11, 2024 | 4:13 pm
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Keybanc analyst Tim Rezvan maintains an Overweight rating on SM Energy but lowers the price target from $56 to $51, indicating a potential decrease in stock valuation.
The reduction in price target by a reputable analyst like Tim Rezvan could lead to a negative short-term sentiment among investors, as it suggests a lower expected future stock price. However, the maintenance of an Overweight rating indicates a belief in the company's fundamentals, which may mitigate some negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100