Middlesex Water Shares Exceed Analyst Target; Investor Insights Needed
Recently, shares of Middlesex Water Co. (Symbol: MSEX) surpassed the average analyst’s 12-month target price of $61.00, changing hands at $61.09 per share. When a stock reaches its target, analysts have two common reactions: they may either downgrade the stock based on valuation or raise their target price. Their assessments can vary, influenced by the company’s fundamental developments. If the company’s outlook improves, it could indicate the need for a higher target price.
Analyst Targets and Variations
Within the Zacks coverage universe, three analysts contribute to the average target for Middlesex Water. However, these targets vary significantly. For instance, one analyst predicts a price of just $56.00, while another is optimistic, forecasting a price as high as $66.00. The standard deviation for these targets stands at $5.00, reflecting a range of perspectives.
Assessing Investment Strategy
Investors look at average price targets to leverage collective analyst insights, rather than relying on a single expert’s opinion. With MSEX trading above the average target price of $61.00 per share, this could signal a pivotal moment for investors to evaluate the company’s potential. They must decide whether $61.00 is a stepping stone to greater heights or if the current valuation necessitates a more cautious approach. Below is a summary of current analyst ratings for Middlesex Water Co.:
| Recent MSEX Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 2 | 1 | 1 | 1 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 0 | 1 | 1 | 1 |
| Sell ratings: | 1 | 1 | 1 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.0 | 2.67 | 2.67 | 2.0 |
The average rating ranges from 1 to 5, where 1 indicates a Strong Buy and 5 a Strong Sell. This article utilizes data from Zacks Investment Research via Quandl.com. For the latest Zacks research report on MSEX, access it here — FREE.
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The views and opinions expressed herein are the authors and do not necessarily reflect those of Nasdaq, Inc.
