Mizuho analyst Gabriel Moreen maintained an Outperform rating for New Jersey Resources Corporation (NJR) on April 21, 2026 [1].
This rating reflects a positive outlook on the company's ability to navigate the energy transition—specifically its role in the hydrogen and fuel cell sector.
According to reports, Mizuho has issued several price target adjustments over the last several months. On April 21, 2026, Moreen increased the price objective for NJR to $61 from $54 [1]. This follows a previous update on December 17, when Mizuho upgraded the company from Neutral to Outperform and lifted the price target to $54 from $51 [2].
Analysts say the company's current valuation is attractive. The firm's position in the hydrogen and fuel cell market is a key driver for the rating, as the company is listed as one of the best hydrogen and fuel cell stocks to buy for 2026 [3].
Moreen's analysis focuses on strong fundamentals and attractive valuation. He said the company's position in the emerging energy sector provides a long-term growth trajectory.
New Jersey Resources Corporation is listed on the New York Stock Exchange under the ticker NJR. The company continues to upgrade its infrastructure to support new energy sources.
Regarding the stock's performance, analysts have highlighted that the company ranks among the best hydrogen and fuel cell stocks to buy now [1]. The shift toward cleaner energy sources has placed NJR in a strategic position to capitalize on the future of energy distribution in the U.S.
While some reports vary on the exact timing of rating changes, the trend indicates a consistent upward revision of the price target. The movement from $51 to $54 and then to $61 represents a significant increase in the projected value of the company's stock over a relatively short period.
“Mizuho analyst Gabriel Moreen maintained an Outperform rating for New Jersey Resources Corporation (NJR).”
The repeated upward revisions of price targets by Mizuho indicate a level of confidence in the company's strategic shift toward hydrogen fuel. For utility companies, transitioning from traditional gas distribution to hydrogen-ready infrastructure is a critical survival mechanism in a decarbonizing economy. This analysts' confidence suggests that NJR's current fundamentals are strong enough to support this transition without compromising financial stability.
