NextEra Energy price target lowered to $53 from $76 at BofA

BofA analyst Julien Dumoulin-Smith lowered the firm’s price target on NextEra Energy to $53 from $76 and keeps a Neutral rating on the shares. After management’s latest updates, “it is apparent to us there are more cracks in the story and questions on the 8% long-term EPS guidance after a sterling track record,” says the analyst, who notes the shares’ 40% year-to-date drop includes a decline of over 20% in the last week. The firm’s new $53 price target is “a Street low” and the firm sees “too many unknowns to get constructive today,” the analyst added.