Analyst Ratings Coverage
STA Research, a investment research firm on Monday July 17th assigned a “Speculative Buy” rating tag to Nuveen Insured New York Select Tax-Free Portfolio.
Speculative Buy Rating:
STA Research’s (Analyst Rank #43 of 342) Speculative Buy rating indicates that they believe there is potential for significant gains for investors who are willing to take on a higher level of risk. This suggests that they have identified positive attributes and growth prospects for Nuveen Insured New York Select Tax-Free Portfolio, making it an attractive investment option for certain investors seeking potential returns.
Nuveen Insured New York Select Tax-Free Portfolio:
Nuveen Insured New York Select Tax-Free Portfolio is a municipal bond fund managed by Nuveen, a prominent investment management company. The fund primarily invests in tax-exempt municipal bonds issued by entities in the state of New York. These bonds are generally considered low-risk investments due to their tax advantages and backing by the issuing municipalities.
12-Month Target Price:
STA Research has set a 12-month target price of $13.25 for Nuveen Insured New York Select Tax-Free Portfolio. This target price represents the price level at which STA Research believes the fund’s units could trade by the end of the 12-month period. It is important to note that target prices are subjective and based on various factors, including the fund’s underlying assets, market conditions, and the research firm’s analysis.
Factors Driving the Speculative Buy Rating:
STA Research likely considered multiple factors in assigning the “Speculative Buy” rating to Nuveen Insured New York Select Tax-Free Portfolio. Some of the key factors that may have influenced their assessment include:
- Strong Municipal Bond Market: The municipal bond market, particularly in New York, has demonstrated resilience and stability over the years. STA Research may have recognized the potential for consistent income generation and capital preservation through the fund’s investment in tax-exempt municipal bonds.
- Favorable Market Conditions: STA Research’s analysis might have taken into account the current economic environment and interest rate trends. Lower interest rates generally boost the attractiveness of fixed-income securities like municipal bonds, potentially leading to increased demand and price appreciation.
- Nuveen’s Expertise and Track Record: Nuveen’s experience and expertise in managing municipal bond funds could have factored into the research firm’s positive assessment. Nuveen’s established track record in the industry may have provided confidence in the fund’s potential performance.
Nuveen Stock Forecast & Analysis
STA Research’s assignment of a “Speculative Buy” rating to Nuveen Insured New York Select Tax-Free Portfolio highlights their slight optimism about the fund’s potential for growth and positive returns. STA Research’s target price of $13.25 serves as a reference point for potential future performance, but it is crucial to remember that market dynamics can lead to price fluctuations, and investment outcomes are subject to various risks and uncertainties.
Based on the stock forecast from one analyst, the average analyst target price is $13.25, for Nuveen Insured New York Select Tax-Free Portfolio over the next 12 months. The consensus rating is a Buy. Stock Target Advisor’s own analysis of the portfolio indicates a slightly bearish outlook based on 2 positive signals and 3 negative signals. As of the last closing, the stock price of Nuveen Insured New York Select Tax-Free Portfolio was USD 12.65, with a slight increase of +0.08% over the past week and +0.16% over the past month, but a decrease of -1.86% over the last year.
