Mizuho Securities Upgrades PNM Resources (PNM) to Neutral

Mizuho Securities analyst Paul Fremont upgraded PNM Resources (NYSE: PNM) from Underperform to Neutral with a price target of $43.50 (from $42.50).

The analyst comments "We are upgrading PNM Resources to Neutral from Underperform based on likely passage of SB 489, which includes securitization of San Juan Coal Plant costs. The Energy Transition Act (ETA) passed the Senate yesterday by a vote of 32-9 and will likely be voted on by the House next week. The legislative session ends on March 16, 2019."

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 $44.94 yesterday.

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