SJW Group price target lowered to $67 from $72 at Wells Fargo

Wells Fargo lowered the firm’s price target on SJW Group to $67 from $72 and keeps an Underweight rating on the shares after hosting investor meetings with CFO Andrew Walters. The firm notes that SJW’s fundamentals continue to strengthen, while management’s credibility with investors seems to be improving. Nonetheless, Wells believes regulatory risk will be ramping up in 2024.