NextEra Energy Poised For Strong EPS Growth With Renewable Expansion, Says Goldman Sachs Analyst
Portfolio Pulse from Lekha Gupta
Goldman Sachs analyst Carly Davenport has raised the price target for NextEra Energy (NEE) to $92, maintaining a Buy rating. Despite a sales miss, NEE's strong EPS and renewable energy expansion potential are highlighted. The analyst projects EPS growth of 10% from 2024 to 2027, driven by renewable and nuclear energy developments. Investors can gain exposure through ETFs like UTES and XLU.

October 25, 2024 | 5:36 pm
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POSITIVE IMPACT
Goldman Sachs raised the price target for NextEra Energy to $92, maintaining a Buy rating. Despite a sales miss, NEE's strong EPS and renewable energy expansion potential are highlighted. The analyst projects EPS growth of 10% from 2024 to 2027.
The analyst's positive outlook and increased price target suggest confidence in NEE's growth potential, particularly in renewables. This is likely to positively impact NEE's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to NextEra Energy's growth through the Virtus Reaves Utilities ETF, which includes NEE.
UTES includes NEE, so positive developments for NEE could benefit UTES. However, the impact is less direct compared to holding NEE stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to NextEra Energy's growth through the SPDR Select Sector Fund – Utilities, which includes NEE.
XLU includes NEE, so positive developments for NEE could benefit XLU. However, the impact is less direct compared to holding NEE stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50