TXNM Energy price target raised to $53 from $49 at Wells Fargo

Wells Fargo raised the firm’s price target on TXNM Energy (TXNM) to $53 from $49 and keeps an Overweight rating on the shares. With more clarity on the magnitude of capex opportunities from ERCOT’s Permian Basin Reliability Study and PNM’s 2028 Resource application, the firm increases its 2027-2029 EPS.