Barclays Maintains an 'Underweight' on New Jersey Resources (NJR); Bumps Estimates After Quarter

Barclays maintains an 'Underweight' on New Jersey Resources (NYSE: NJR) price target of $46.00.

Analyst, Richard Gross, claims NJR's Q2 beat ($1.78 vs. Barclays $1.63 and Consensus of $1.67) was largely because of the Clean Energy Ventures contribution (which is tied to tax credits from solar projects). Gross raises FY12 EPS estimate from $2.70 to $2.76, but maintains FY13 at $2.61.

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 $43.00 yesterday.

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