Wells Fargo says NextEra Energy should be bought on weakness

Wells Fargo keeps an Overweight rating and $95 price target on NextEra Energy, saying the weakness of the stock should be bought. Near-term expectations for the company were a tad elevated, but the positive long-term power demand and the renewables narrative remains intact, the analyst tells investors in a research note. NextEra has a long track record of besting the 6%-8% EPS CAGR guidance, and the updated disclosures point to a continuation of that trend, Wells Fargo added.