UPDATE: Jefferies Raises PT on PNM Resources from $23 to $25
Jefferies maintained a Buy rating on PNM Resources (NYSE: PNM) and raised its price target from $23 to $25.
Jefferies wrote, “2Q12 Operating earnings of $1.33 were above consensus estimate of $0.29. The company indicated that it expects to earn at the mid- point of its guidance range of $1.20-$1.32. Jefferies believes there is significant potential earnings upside associated with the Palo Verde nuclear plant.”
PNM Resources closed at $20.80 on Friday.
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