TXNM Energy (TXNM) PT Raised to $57 at Evercore ISI

Evercore ISI analyst Michael Lonegan raised the price target on TXNM Energy (NYSE: TXNM) to $57.00 (from $54.00) while maintaining a Outperform rating.

The analyst comments "Raising our target price to $57/share. We apply a 16.5x multiple to our 2027 EPS estimate of $3.42/share, a 5% premium to our peer utilities trading multiple. We think TXNM deserves a modest premium multiple given its strong expected EPS CAGR and effective regulatory strategy execution, keeping in mind some wildfire risk, though in low population density and property value areas."

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