JP Morgan Downgrades Essent Group to Neutral, Raises Price Target to $61
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Richard Shane downgraded Essent Group (ESNT) from Overweight to Neutral but raised the price target from $58 to $61.

April 03, 2024 | 11:24 am
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NEUTRAL IMPACT
Essent Group was downgraded by JP Morgan from Overweight to Neutral, although the price target was increased from $58 to $61.
The downgrade to Neutral suggests a more cautious outlook on Essent Group's stock by JP Morgan, potentially due to valuation or other concerns. However, the increase in the price target to $61 indicates an expectation of some positive performance. This mixed signal could lead to short-term uncertainty among investors, making the impact on the stock price neutral as the market digests both pieces of information.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90