TXNM Energy price target raised to $53 from $50 at Mizuho

Mizuho raised the firm’s price target on TXNM Energy (TXNM) to $53 from $50 and keeps a Neutral rating on the shares. The company reported a “strong update” on its Q4 earnings call, increasing its five-year capex plan by over 25% and raising its earnings growth outlook to 7%-9%, among the highest in the electric utility peer group, the analyst tells investors in a research note. However, the firm views the shares as fairly valued.