Morgan Stanley raised the firm’s price target on NextEra Energy (NEE) to $115 from $107 and keeps an Overweight rating on the shares after NextEra and Dominion (D) announced an agreement to merge in an all stock deal to create a $400B enterprise value utility and energy infrastructure company. The firm, which thinks the deal is “attractive overall,” likes the accretion, accelerated growth prospects around data center power, cleaner earnings power, and improved balance sheet.
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- Dominion price target raised to $72 from $66 at RBC Capital
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