TXNM Energy downgraded to Hold at Jefferies on merger approval confidence

As previously reported, Jefferies downgraded TXNM Energy (TXNM) to Hold from Buy with a price target of $61.25, up from $58, telling investors that the firm remains confident in merger approval process for the company’s agreement under which Blackstone Infrastructure will acquire TXNM for $61.25 in cash for each share.