NextEra Energy price target raised to $70 from $65 at Guggenheim

Guggenheim raised the firm’s price target on NextEra Energy to $70 from $65 and keeps a Buy rating on the shares following a 2 day NDR with management. Key updates from the meetings included: NEE‘s growth datapoints are headed to the top end of 6%-8% EPS growth or more; NEP’s strategy needs to work by 2026; NEER fundamentals point to the upper half of development targets; financing headwinds remain manageable and tax credit monetization is becoming a significant tailwind; FPL remains an underappreciated growth vehicle at NEE, the analyst tells investors. The firm is maintaining a constructive outlook on the stock.