Guggenheim raised the firm’s price target on New Jersey Resources (NJR) to $54 from $53 and keeps a Neutral rating on the shares. A beat compared to Guggenheim and consensus estimates was driven by the previously announced sale of its residential solar business, notes the analyst, who lowered the firm’s FY25 estimates by 11c and adjusted FY26-FY29 estimates to reflect slightly higher contributions from the CEV segment versus prior assumptions given management’s tone around the segment.
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