Wells Fargo lowered the firm’s price target on PNM Resources to $41 from $44 and keeps an Overweight rating on the shares after digesting PNM’s first post-AGR deal break update. The firm notes attractive rate base growth story with upside potential. EPS outlook was lowered to reflect higher parent financing drag, Wells adds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PNM:
- PNM Resources sees FY24 ongoing EPS $2.65-$2.75, consensus $2.72
- PNM Resources reports Q4 ongoing EPS 18c, consensus 15c
- PNM Resources Reports 2023 Results and Introduces 2024 Earnings Guidance
- Ex-Dividend Date Nearing for These 10 Stocks – Week of January 29, 2024
- PNM Resources price target lowered to $40 from $41 at Mizuho