NextEra Energy Poised For Strong EPS Growth With Renewable Expansion, Says Goldman Sachs Analyst

Goldman Sachs analyst Carly Davenport raised the price target for NextEra Energy, Inc. (NYSE:NEE) to $92 (from $86) and reiterated the Buy rating.

Recently, the company reported third-quarter adjusted EPS of $1.03 exceeded the estimate of $0.98, while sales of $7.567 billion fell short of the $8.054 billion estimate.

The analyst says the quarter underscored strong demand for renewables amid growing power needs, showcasing NEE’s competitive advantages as a developer to capitalize on this trend.

While the analyst remains optimistic about NEE’s potential to expand its renewables capacity in the coming years, they also see opportunities to incorporate nuclear (through Duane Arnold) and gas to meet increasing power demand from a ...