JPMorgan upgraded New Jersey Resources (NJR) to Overweight from Neutral with a price target of $54, up from $52. The company’s recent fiscal Q4 earnings showcased continued confidence in its “premium” 7%-9% earnings growth, now re-based to 2025, the analyst tells investors in a research note. The firm sees 2025 as a :more standard” execution-focused year for New Jersey Resources after bigger regulatory lifts in 2024.
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