Morgan Stanley Raises NextEra Energy (NEE) Target as it Updates Utility Coverage

NextEra Energy, Inc. (NYSE:NEE) is included among the 10 Reliable Dividend Stocks to Buy for Long-Term Investors.

On June 24, Morgan Stanley raised its price recommendation on NextEra Energy, Inc. (NYSE:NEE) to $117 from $111. It reiterated an Overweight rating on the shares. The update came as part of the firm’s review of North American regulated and diversified utilities, as well as independent power producers, for May. According to the analyst, utility stocks underperformed the broader S&P 500 during the month.

Earlier, on June 17, Bernstein initiated coverage of NEE. The firm set an Outperform rating and a $107 price target on the stock. The firm said the stock’s relative underperformance came despite “solid fundamentals.” According to the analyst, investor sentiment was weighed down by the XPLR Infrastructure “fiasco” and the recent announcement from Dominion. Even so, Bernstein believes those concerns are now reflected in the stock price and sees room for further upside.

NextEra Energy, Inc. (NYSE:NEE) is an electric power and energy infrastructure company. It operates through its wholly owned subsidiaries, NextEra Energy Resources, LLC, and NextEra Energy Transmission, LLC, which are collectively known as NEER, as well as Florida Power & Light Company (FPL).

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