Murphy USA shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight but raised its price target from $415 to $435.
Portfolio Pulse from Benzinga Newsdesk
Murphy USA shares declined following a downgrade by JP Morgan from Neutral to Underweight, despite an increase in the price target from $415 to $435.
September 19, 2024 | 3:49 pm
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NEGATIVE IMPACT
Murphy USA's stock was downgraded by JP Morgan from Neutral to Underweight, which led to a decline in its share price. However, the price target was raised from $415 to $435, indicating a mixed outlook.
The downgrade to Underweight suggests a negative outlook, which typically pressures the stock price downward. However, the raised price target indicates some positive long-term expectations. The immediate market reaction is likely negative due to the downgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100