UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on NextEra Energy
In a report published Friday, Goldman Sachs Group reiterated its Neutral rating on NextEra Energy (NYSE: NEE), but slightly lowered its price target from $70.00 to $69.00.
Goldman Sachs noted, “After the Florida Public Service commission (FPSC) approved a modified settlement on FP&L's rate case on December 13, we revise our estimates on NextEra Energy (NEE) and remain Neutral. We lower our 2013-15 EPS estimates from $5.08/$5.26/$5.27 to $5.02/$5.19/$5.19 and lower our 12-month target price from $70 to $69. The FPSC modified the settlement reached by FP&L in August 2012, by lowering the authorized RoE from 10.7% to 10.5%, and reducing the base rate increase in 2013 from $378 mn to $350 mn.”
NextEra Energy closed on Thursday at $70.05.
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Tags: Goldman Sachs Group