NextEra Energy Partners price target lowered to $58 from $85 at Scotiabank

Scotiabank lowered the firm’s price target on NextEra Energy Partners to $58 from $85 and keeps a Sector Perform rating on the shares. The rising rate environment is hitting NextEra harder than any of the regulated utility stocks, the analyst tells investors in a research note. The firm agrees with management that decelerating growth is better than acquiring riskier assets at unattractive valuations.