NextEra Energy (NEE) PT Raised to $83 at BMO Capital

BMO Capital analyst James Thalacker raised the price target on NextEra Energy (NYSE: NEE) to $83.00 (from $79.00) while maintaining a Outperform rating.

The analyst commented, "Following our quarterly walk we are revising our 2Q24 estimate to $0.97 vs. $0.88 in 2Q23. The positive comparison is driven by NEER (new investments, more normal wind resource, fewer planned outages) and double-digit regulatory capital growth at FPL. With results, we are focused on net backlog additions, additional detail on asset rotation related funding, updated thoughts on the on November's election, and the ability to exceed the top end of the 6-8% EPS outlook as anticipated growth at NEER accelerates. • Remain Outperform. Our MTM SOTP target price moves to $83."

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