Keefe Bruyette analyst Christopher O’Connell has revised the price target for Chemung Financial Corporation (CHMG, Financial), reducing it from $60 to $55. Despite this adjustment, the analyst maintains a Market Perform rating on the stock. This move reflects a more cautious outlook on the company's financial prospects.
While the price target adjustment suggests a tempered expectation, the Market Perform rating indicates that investors might expect the stock to perform in line with the broader market in the near term. Chemung Financial continues to navigate a challenging economic landscape, which may influence future stock performance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Chemung Financial Corp (CHMG, Financial) is $56.00 with a high estimate of $60.00 and a low estimate of $50.00. The average target implies an upside of 32.89% from the current price of $42.14. More detailed estimate data can be found on the Chemung Financial Corp (CHMG) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Chemung Financial Corp's (CHMG, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Chemung Financial Corp (CHMG, Financial) in one year is $53.67, suggesting a upside of 27.36% from the current price of $42.14. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Chemung Financial Corp (CHMG) Summary page.
