National Fuel price target raised to $69 from $67 at Argus

Argus raised the firm’s price target on National Fuel (NFG) to $69 from $67 and keeps a Buy rating on the shares following the fiscal Q4 report. The modestly lower earnings reflected lower customer margins, an increase in operations and maintenance expense, higher interest expense, and a higher income tax rate within the downstream Utility business, the analyst tells investors in a research note. The firm says that despite the modestly lower earnings guidance for fiscal 2025, it remains supportive of the shares and National Fuel’s strategy. The company is very well positioned in terms of its diversified operations and financial stability, particularly in a volatile energy environment, contends Argus.