Mizuho upgraded New Jersey Resources (NJR) to Outperform from Neutral with a price target of $54, up from $51. The firm cites the company’s “attractive valuation and strong fundamentals” for the upgrade. New Jersey Resources trades at a 23% discount to peers on 2028 consensus estimates, compared to an average discount of 8% over the past five years, the analyst tells investors in a research note. The firm says the company’s “strong” balance sheet, minimal equity needs and potential near-term earnings upside from natural gas market volatility are positives.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NJR:
- New Jersey Resources Shines in Fiscal 2025 Earnings Call
- New Jersey Resources Reports Strong Fiscal 2025 Results
- Strong Financial Performance and Growth Potential Drive Buy Rating for New Jersey Resources
- New Jersey Resources price target raised to $53 from $50 at Raymond James
- New Jersey Resources reports Q4 adjusted EPS 16c, consensus 19c