BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Upgraded to “Buy” at B. Riley

B. Riley upgraded shares of BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat.com reports. They currently have $19.00 price objective on the stock, up from their prior price objective of $11.00.

Several other research analysts have also commented on the stock. 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 target on the stock in a research note on Friday, January 16th. Zacks Research cut 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.

BlackRock Short-Term California Muni Bond ETF Stock Performance

NASDAQ:CALY opened at $15.82 on Thursday. The company has a market capitalization of $2.91 billion, a P/E ratio of -1.93 and a beta of 0.92. The stock’s 50 day moving average price is $46.98 and its 200 day moving average price is $49.30. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65.

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.