Brean Murray Carret & Co. Upgrades New Jersey Resources (NJR) to Buy; Buy on Dip

Brean Murray Carret & Co. upgraded New Jersey Resources (NYSE: NJR) from Hold to Buy with a price target of $49.00.

Analyst, Michael Gaugler, said, "We've waited patiently to revisit our rating on the shares of NJR, and the recent pullback represents what we believe to be an opportunity to scale into positions at very attractive prices. In our view, concerns over one of the warmest calendar first qtr's on record has pressured share prices on several gas utilities heading into quarterly results, an we recommend investors take advantage of this situation."

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

Shares of New Jersey Resources closed at $42.30 yesterday.

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