Mizuho Securities Reiterates Buy on Nextera Energy (NEE) After Meeting with Management
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Mizuho Securities reiterated a Buy rating and $138.00 price target on NextEra Energy (NYSE: NEE) after spending time with management. The bankruptcy court has scheduled a hearing for September 19 to consider the ability for EFH to enter into the merger and to approve the termination fee.
Analyst James Riesemann commented, "We recently caught up with CFO Ketchum in NYC. Although we learned little new information, the tone was more certain. Ketchum remains confident in: (i) NEEs long-term growth and value proposition (6-8% EPS and 12-14% DPS growth); (ii) NEEs ability to execute its underlying renewables strategy and for renewables to eventually compete against CCGTs; and (iii) that flagship utility Florida Power & Light is well-positioned in its general rate case. Maintain EPS estimates, Buy rating and $138 target."
Shares of NextEra Energy closed at $122.34 yesterday.
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