NextEra Energy, Inc. (NYSE:NEE): Zacks Reaffirmed its “Neutral” Rating


Dallas, Texas 11/05/ 2013 (Financialstrend) – In a report which is released on November 4, 2013, Zacks, reaffirmed its ‘Neutral’ rating on the NextEra Energy (NYSE:NEE)’s stock. At present the stock has a target price of $93.

Zacks‘analyst wrote, “NextEra Energy posted mixed results with bottom line beating the Zacks Consensus Estimate while top line missing the mark. However, both the parameters experienced a year over year increase driven by the company’s effective execution of development projects, rise in total energy sales volume and service start-up of renewable contracted projects.

Further, the analysts also mentioned that, development in the Florida economy is likely to drive demand. The agreement which is made recently, for the purchase of 250 megawatt Silver State South Project from First Solar Inc. is going to for the expansion of the company’s already premier renewable asset base. On the other hand, commodity price sensitivities and tariff headwinds in relation to its solar project of Spain can act as constraints to progress.

NextEra Energy (NYSE:NEE) traded down 0.06% on November 4, 2013, hitting $88.09. 2.52 million Shares of the company’s stock traded hands. The company has a market cap of $37.41 billion.

Recently, number of other forms has also commented on the stock of the company. Analysts at Barclays in a research note to investors raised their target price on the shares of the company from $90.00 to $94.00. Currently, they have an ‘overweight’ rating on the stock. On, October 28, 2013, other analysts at Goldman Sachs Group Inc. in a research note to investors, cut their price target from $89.00 to $88.00. And finally, on October 2, 2013, in a research note to investors, analysts at Deutsche Bank raised their price target from $80.00 to $82.00 and currently, they have a ‘hold’ rating on the stock.

8 research analysts have rated the stock of the company with a ‘hold’ rating, while 9 have assigned a ‘buy’ rating to the stock of the company. Currently, the company has a consensus rating of “Buy” with a price target of $87.93.