Standpoint Research Starts iShares S&P Global Utilities (JXI) at Buy; Looking Into Utilities Again

Standpoint Research initiates coverage on iShares S&P Global Utilities (NYSE: JXI) with a Buy. PT $55.00.

Analyst, Ronnie Moas, said, "With the XLU under-performing the SPY by more than 1000 bps since our August 24 (NYSE: XLU) downgrade, I was looking through our Utilities sector report that covered 100 names (and went out this past weekend) for an idea (or two) as we went to zero weight Utilities in August and have been at zero since. We went to zero weight Utilities in August when the market oversold on bad news and concerns. XLU was dropped at $33.54 not because it was over-valued, but because I didn’t think it could keep pace with the S&P if and when the market bounced off that August low..With the S&P now at 1400 I think it is a good time to jump back in to Utilities on a selective and gradual basis.



For an analyst ratings summary and ratings history on iShares S&P Global Utilities click here. For more ratings news on iShares S&P Global Utilities click here.

Shares of iShares S&P Global Utilities closed at $42.31 yesterday.

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