Soleil Securities Upgrades PNM Resources (PNM) to Buy
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Soleil Securities upgrades PNM Resources (NYSE: PNM) from Hold to Buy. Price target $13.50
Soleil analyst says, "Shares represent value; upgrading to Buy from Hold on price basis with the stock at a 34% discount to its $17.12/shr tangible book value...The catalysts in our opinion are that cash proceeds from assets sales could be used for share buybacks or parent-level debt reduction--perhaps a combination of both."
PNM Resources, Inc. (PNMR) is a holding company of energy and energy-related businesses.
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