UPDATE: Bernstein Starts NextEra Energy (NEE) at Outperform

(Updated - March 3, 2021 5:38 AM EST)

Bernstein analyst Meike Becker initiates coverage on NextEra Energy (NYSE: NEE) with a Outperform rating and a price target of $88.00.

The analyst comments "

Today we initiate coverage on NextEra. Outperform. TP $88. NEE is in pole position to capture the US green energy transition dream and the accelerating opportunities to invest in renewables, storage, hydrogen and electricity networks. We expect growing investments in FPL at stable and attractive returns, a successful turn-around of Gulf Power and a tripling of renewables capacity over 5 years for NextEra Energy Resources, leading to 10% EPS CAGR. "Disruptive forces reshaping our industry {…} have expanded and accelerated over the past two years even beyond what we had anticipated. The combination of low-cost renewables with low-cost storage—in the form of batteries today and hydrogen in the longer term—has substantially increased the total addressable market for NextEra Energy" - NextEra CEO Jim Robo, FY results 2020."

For an analyst ratings summary and ratings history on NextEra Energy click here. For more ratings news on NextEra Energy click here.

Shares of NextEra Energy closed at $75.54 yesterday.

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