Argus raised the firm’s price target on NextEra Energy (NEE) to $90 from $85 and keeps a Buy rating on the shares. The firm expects upcoming sector rotation to build on the company’s “solid” Q3 with fewer storm outages than anticipated and rapid restoration. NextEra has a record of strong dividend growth, the analyst tells investors in a research note. Argus notes the company continues to add renewable projects to its backlog to meet projected data center demand, which includes an agreement with Google.
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