UPDATE: Barclays Upgrades PNM Resources (PNM) to Equalweight

(Updated - November 21, 2019 5:11 AM EST)

(update comment)

Barclays analyst Eric Beaumont upgraded PNM Resources (NYSE: PNM) from Underweight to Equalweight with a price target of $51.00 (from $52.00).

The analyst comments "We expect average to above average earnings/dividend growth through 2021, but believe the stock is fairly valued at its current premium (on 2021E EPS) based on our valuation
framework."

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 $48.84 yesterday.

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