NextEra Energy price target lowered to $96 from $105 at Scotiabank

Scotiabank lowered the firm’s price target on NextEra Energy to $96 from $105 and keeps an Outperform 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. For NextEra Energy, it sees the year-to-date weakness as overdone, however.