NextEra Energy price target lowered to $84 from $94 at UBS

UBS lowered the firm’s price target on NextEra Energy (NEE) to $84 from $94 and keeps a Buy rating on the shares. The U.S. House of Representatives’ reconciliation bill was more negative on Section 45Y repeal and Foreign Entity of Concern language that would pertain largely to energy storage growth efforts, the analyst tells investors in a research note. NextEra Energy is the most well-positioned of any of the renewable energy developers to manage through uncertainty given their size and scale, but this likely presents a material overhang until the Senate version of this bill materializes, UBS says.