Wells Fargo raised the firm’s price target on NextEra Energy to $85 from $84 and keeps an Overweight rating on the shares. The firm cites a higher assumed price to earnings multiple for FP&L. Wells considers NextEra Energy to be one of its better ideas at the moment, and thinks the high interest rate environment has caused investors to shy away from its capital-intensive business model. But make no mistake, NextEra Energy’s leading renewables franchise is well-positioned to benefit from the strong demand trends, the firm argues.
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Read More on NEE:
- NextEra Energy price target raised to $67 from $65 at Mizuho
- Early notable gainers among liquid option names on March 13th
- Unusually active option classes on open March 13th
- NextEra Energy call volume above normal and directionally bullish
- NextEra Energy board declares quarterly dividend and continues above-average targeted growth rate in dividends per share through at least 2026
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