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Fly News Breaks for September 30, 2019
PNM
Sep 30, 2019 | 08:01 EDT
As previously reported, BofA Merrill Lynch analyst Julien Dumoulin-Smith upgraded PNM Resources to Buy from Neutral and raised his price target on the shares to $56 from $51, citing his view that a positive Supreme Court decision seems likely, which would allow the company to continue with its plan to abandon, securitize and replace the New Mexico San Juan coal plant. He also raised his EPS estimates in 2022 to account for confidence in PNM's latest capex and financing plan.
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