Wells Fargo raised the firm’s price target on New Jersey Resources (NJR) to $54 from $51 and keeps an Equal Weight rating on the shares. The firm notes the company announced the sale of the residential solar business and affirmed the 7%-9% EPS growth target off a new 2025 base, which is consistent with the prior trajectory.
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Read More on NJR:
- New Jersey Resources Reports Strong Fiscal 2024 Results
- New Jersey Resources Boosts Finances with Solar Sale
- NJR Clean Energy Ventures sells residential solar portfolio to Spruce Power
- New Jersey Resources reports Q4 adjusted EPS 89c, consensus 87c
- New Jersey Resources sees FY25 EPS $3.05-$3.20, consensus $2.88