BTIG analyst Alex Kania reiterated a Buy rating and $98 price target on NextEra Energy (NEE) as press reports indicate that Alphabet (GOOG) (GOOGL) had signed a 25-year power purchase agreement with NextEra for a Duane Arnold nuclear plant restart. The news is constructive for NextEra, albeit not unexpected, and underscores the appetite for baseload, zero-carbon generation capacity from hyperscalers, the analyst tells investors in a research note. The firm estimates that the direct value accretion of NextEra from a restart of Duane Arnold could be about $1 per share, or 1%.
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