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.
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