Jefferies Upgrades PNM Resources (PNM) to Buy

September 20, 2016 6:36 AM EDT
Get Alerts PNM Hot Sheet
Price: $33.90 +1.35%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies upgraded PNM Resources (NYSE: PNM) from Hold to Buy with a price target of $37.50 (from $35.00).

Analyst Anthony Crowdell commented, "We are upgrading PNM to Buy from Hold and believe a final rate case decision from state regulators later this month will be more balanced than what is priced into the stock. A very negative Hearing Examiner recommendation was issued back in August and we believe a final order will avoid this contentious recommendation. With 7-9% EPS growth trading at a 7% discount it may be time to come aboard."

For an analyst ratings summary and ratings history on PNM Resources click here. For more ratings news on PNM Resources click here.

Shares of PNM Resources closed at $33.01 yesterday.

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