BofA is moving to No Rating on TXNM Energy (TXNM) following the recently announced proposal for Blackstone Infrastructure to purchase 100% of outstanding equity for $61.25 per share in an all-cash transaction. The stock is no longer trading on its fundamentals, the firm noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TXNM: