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NJR Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: NJR is potentially positioned for growth due to rising demand for clean energy and its status as a dividend aristocrat. Expected regulatory support for clean energy initiatives can drive share price upward, backed by historically positive performance across longer holding periods.

Bearish Case: The market sentiment around NJR appears pessimistic, fueled by economic uncertainties and evidenced by high implied volatility. Current price action trends suggest the potential for further declines, particularly if earnings reports continue to underperform expectations.

Potential Outcomes: 30%: Stabilization in share price due to ongoing dividends.
40%: Potential growth from regulatory support in the clean energy sector.
30%: Decline in price due to macroeconomic pressures affecting natural gas demand.

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November 26, 2024

New Jersey Resources Forecast

NJR New Jersey Resources

Price Forecast
Future Uncertainty

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Correlated Assets

Assets that tend to move strongly with NJR

EVRG Evergy (0.89)

SRE Sempra Energy (0.88)

PNW Pinnacle West (0.87)

ZION Zions Bancorporation N.A (0.86)

EIX Edison International (0.85)

Uncorrelated Assets

Assets with little price relationship to NJR

ACN Accenture (0.0)

BHVN Biohaven Pharmaceutical (-0.01)

MU Micron Technology (0.01)

CRNT Ceragon Networks (0.02)

ADM Archer Daniels Midland (-0.02)

Anticorrelated Assets

Assets that tend to move strongly against NJR

EWCZ European Wax Center (-0.74)

XRX Xerox (-0.74)

DLTR Dollar Tree (-0.74)

AMR Alta Mesa Resources (-0.74)

RWM ProShares Trust - ProShares Short Russell2000 (-0.76)

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