BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Stock Rating Upgraded by B. Riley

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) was upgraded by stock analysts at B. Riley from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a $19.00 price target on the stock, up from their prior price target of $11.00. B. Riley’s price objective indicates a potential upside of 21.72% from the stock’s previous close.

CALY has been the subject of several other research reports. Zacks Research downgraded shares of BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. KeyCorp upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research report on Friday, January 16th.

BlackRock Short-Term California Muni Bond ETF Price Performance

CALY stock opened at $15.61 on Thursday. BlackRock Short-Term California Muni Bond ETF has a one year low of $5.42 and a one year high of $16.65. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -1.91 and a beta of 0.92. The company has a fifty day moving average price of $46.28 and a two-hundred day moving average price of $49.06.

About BlackRock Short-Term California Muni Bond ETF

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.