NextEra Energy price target raised to $84 from $74 at RBC Capital

RBC Capital raised the firm’s price target on NextEra Energy to $84 from $74 and keeps an Outperform rating on the shares after the company issued medium term guidance. The stock’s underperformance yesterday was due to lofty expectations of earnings growth tied to power demand that will likely materialize post-2027, but RBC remains confident in the tailwinds delivering growth at or above the management’s 6%-8% guidance range. Florida Power & Light, or FPL, has a runway of investment opportunities, and RBC expects regulatory capital to grow at 9% or higher, the analyst tells investors in a research note.