JPMorgan analyst Richard Sunderland downgraded SJW Group to Neutral from Overweight with a price target of $84, down from $86. The analyst sees a "narrowing risk/reward" following the strong share performance in the second half of 2022. The firm moves to the sidelines pending final CPUC cost of capital clarity and update on inflation impacts to 2023 earnings.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SJW:
- SJW Group increases quarterly dividend 5.6% to 38c per share
- SJW Group downgraded to Sector Perform from Outperform at RBC Capital
- SJW Group downgraded to Neutral from Buy at Seaport Global
- SJW Group appoints Bruce Hauk as chief operating officer
- SJW Group price target raised to $78 from $72 at Wells Fargo