NextEra Energy (NEE) PT Lowered to $69 at Mizuho

Mizuho analyst Paul Fremont lowered the price target on NextEra Energy (NYSE: NEE) to $69.00 (from $73.00) while maintaining a Neutral rating.

The analyst commented: "We continue to forecast NEE to grow earnings at or near the top end of its 6%-8% guidance range. We believe NEE addressed two of our biggest concerns in the story: tariffs and tax credits. Management noted minimal tariff exposure given the company has been proactive in addressing its supply chain over the past few years, as well as its size and scale. Management also believes there is enough Republican support in Congress for IRA tax credits and transferability. In FPL's rate case, Staff and intervenor testimony is due in June, with a potential settlement being reached by mid-summer. We remain Neutral-rated on NEE as exposure to the potential repeal of IRA tax credits keep us on the sidelines. We are lowering our PT to $69 from $73 for current market multiples."

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