Barclays raised the firm’s price target on TXNM Energy (TXNM) to $61 from $57 and keeps an Overweight rating on the shares following the announced acquisition by Blackstone. The firm sees more room to close the stock’s valuation gap to the deal price as management executes to the close. Barclays believes the deal can close, with New Mexico the “key state to watch.”
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Read More on TXNM:
- TXNM Energy price target raised to $60 from $55 at Scotiabank
- TXNM Energy announces Henry Monroy as CFO
- TXNM Energy downgraded to Neutral from Outperform at Mizuho
- TXNM Energy says has been meeting with Blackstone for several months
- TXNM Energy says dividends expected to continue through closing of deal