Raymond James raised the firm’s price target on New Jersey Resources (NJR) to $50 from $49 and keeps an Outperform rating on the shares. Raymond James is constructive on New Jersey Resources’ ability to differentiate itself among steadier gas utility players through its core New Jersey Natural Gas utility, surrounded by unregulated businesses, the analyst tells investors in a research note. New Jersey Resources has consistently performed well and runs a quality financial model, the firm adds.
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