JP Morgan Maintains Neutral Rating for NextEra Energy Partners: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has maintained a Neutral rating for NextEra Energy Partners (NEP) but raised its price target from $24.00 to $26.00. NEP shares are currently trading down at $28.84, which is above the new target. The company, which focuses on contracted clean energy projects and natural gas infrastructure, would see a 9.83% decline in share price if it reached the new target of $26.00.
January 26, 2024 | 5:00 pm
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JP Morgan maintains a Neutral rating on NextEra Energy Partners and raises the price target to $26, indicating a potential downside from the current price of $28.84.
The maintenance of a Neutral rating combined with a price target that is below the current trading price suggests that JP Morgan does not see significant upside potential for NEP in the short term. This could lead to a negative investor sentiment and a potential decrease in NEP's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100