Deutsche Bank Downgrades NextEra Energy (NEE) to Hold
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Deutsche Bank downgraded NextEra Energy (NYSE: NEE) from Buy to Hold with a price target of $131.00 (from $133.00). Analyst Jonathan Arnold noted strong year-to-date performance.
"NEE is deservedly seen as a cut above the average utility with its high-quality, growth Florida franchise and market-leading renewables unit. We do not dispute this, but we do see near-term upside limited with the stock having shrugged off potential execution headwinds. First, extraordinarily frosty commentary on NEE’s Oncor deal from two (of three) PUCT commissioners at Thursday’s meeting suggests more of an uphill approval battle than we thought. Second, as NEE has said, tax credit extensions may pressure near-term renewables bookings. And third, rate case bid/ask remains unusually wide with few signs of settlement," said Arnold.
Shares of NextEra Energy closed at $128.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teradyne (TER) PT Raised to $28 at Deutsche Bank; Reiterates Buy
- Xilinx (XLNX) PT Raised to $55 at Deutsche Bank Ahead of 3Q Report
- Halliburton (HAL) PT Raised to $65 at Evercore ISI
Create E-mail Alert Related CategoriesAnalyst PT Change, Downgrades
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!