Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for New Jersey Resources Corp (NYSE: NJR) improved of late. NJR’s current Value Trend Rating is C and the prior Rating was D. Details supporting this higher rating are included in our next report.
Recent Price Action
On 5/24/24, New Jersey Resources Corp (NYSE: NJR) stock rose modestly by 0.3%, closing at $42.60. Moreover, above average trading volume at 133% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has declined -4.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, NJR is expected to continue to be an important Value Builder.
New Jersey Resources has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. New Jersey Resources has a neutral Appreciation Score of 44 and a neutral Power Rating of 43, leading to the Low Neutral Value Trend Rating.
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