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Fly News Breaks for January 14, 2019
PNM
Jan 14, 2019 | 06:27 EDT
Mizuho analyst Paul Fremont downgraded PNM Resources to Underperform and lowered his price target for the shares to $38.50 from $39.50. The analyst cites valuation and his belief that securitization legislation is unlikely to be adopted this year for the downgrade. He believes PNM is expensive, trading at a 13% premium to the group average multiple.
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