NextEra Energy Partners price target lowered to $21 from $26 at CIBC

CIBC analyst Mark Jarvi lowered the firm’s price target on NextEra Energy Partners (NEP) to $21 from $26 and keeps a Neutral rating on the shares. The firm recommends avoiding NextEra Energy, with a potential dividend cut that could disappoint and its intrinsic value is not cheap, the analyst tells investors. The firm has increased its assumed discount rates for the stock given risk on funding, lack of clarity on near-term financial projections, and the potential for a large distribution cut.