JPMorgan upgraded NextEra Energy Partners to Overweight from Neutral with a price target of $73, down from $81, after assuming coverage of the name. NextEra Energy Partners provides investors access to downstream ownership of renewable projects, offering "high-quality cash flows and industry-leading dividend growth," the analyst tells investors in a research note. The firm believes the stock should appeal to a "broad array" of yield, energy and ESG investors and says recent investor concerns regarding access and cost of capital are overblown. The stock pullback presents an attractive entry point, JPMorgan contends.
Published first on TheFly
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