Soleil Securities Downgrades NextEra Energy (NEE) to Hold; Seek More Commodity Exposure

Soleil Securities downgraded NextEra Energy (NYSE: NEE) from Buy to Hold. New price target $57.

Soleil analyst said, "The rating reduction reflects our recent shift to preferring the more commodity-exposed names relative to the regulated ones. Instead we would play FirstEnergy (NYSE: FE)(Buy) and Edison International (NYSE: EIX)(Buy), both of which provide attractive exposure to Midwest power prices that rose sharply in the recent capacity auction...We continue to think of NEE as a well managed, solid large-cap story with good balance between the regulated and unregulated sides. However, given our rotation toward preferring the more commodity exposed names, we consider NEE close to full valuation at current levels." (Raises FY11 EPS estimate from $4.45 to $4.50)

For more ratings news on NextEra Energy click here and for the rating history of NextEra Energy click here.

Shares of NextEra Energy closed at $56.21 yesterday.

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