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Equities research analysts at Jefferies Group lifted their target price on shares of PNM Resources (NYSE:PNM) from $30.50 to $31.50 in a research note issued to investors on Thursday. Jefferies Group’s price target would suggest a potential upside of 18.82% from the company’s current price.

PNM has been the subject of a number of other recent research reports. Analysts at KeyCorp initiated coverage on shares of PNM Resources in a research note on Thursday, August 21st. They set a “hold” rating on the stock. Analysts at Robert W. Baird downgraded shares of PNM Resources from an “outperform” rating to a “neutral” rating in a research note on Monday, July 14th. They now have a $29.00 price target on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $28.63.

PNM Resources (NYSE:PNM) traded up 0.04% during mid-day trading on Thursday, hitting $26.52. The stock had a trading volume of 68,364 shares. PNM Resources has a 52-week low of $21.11 and a 52-week high of $29.94. The stock’s 50-day moving average is $26.13 and its 200-day moving average is $27.18. The company has a market cap of $2.112 billion and a price-to-earnings ratio of 662.75.

PNM Resources (NYSE:PNM) last announced its earnings results on Friday, August 1st. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.02. The company had revenue of $346.16 million for the quarter, compared to the consensus estimate of $343.50 million. During the same quarter last year, the company posted $0.38 earnings per share. PNM Resources’s revenue was down .4% compared to the same quarter last year. Analysts expect that PNM Resources will post $1.47 EPS for the current fiscal year.

PNM Resources, Inc (NYSE:PNM) is an investor-owned holding company of energy and energy-related businesses.

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