Mizuho raised the firm’s price target on NextEra Energy (NEE) to $78 from $74 and keeps a Neutral rating on the shares after the company provided details of the previously announced Florida rate settlement. While bears will “quickly point out” that the Florida Office of Public Counsel is not a party to the settlement, the firm says Florida Power & Light has settled every rate case since 2005 and believes the Public Service Commission will approve this settlement. The firm updated its price target based on current market multiples, the analyst noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEE:
- NextEra Energy price target raised to $96 from $95 at Morgan Stanley
- Positive Market Position and Financial Outlook Justify Buy Rating for NextEra Energy
- NextEra Energy Seeks Approval for New Rate Agreement
- FSLR, RUN, NEE: President Trump Says U.S. Will Not Approve Solar and Wind Projects
- NextEra Energy initiated with a Buy at Melius Research