BUZZ-Street View: NextEra seen riding energy demand boom with strategic partnerships

Reuters12-09
BUZZ-Street View: NextEra seen riding energy demand boom with strategic partnerships

** Utility company NextEra Energy NEE.N has broadened its partnership with Alphabet's Google Cloud GOOGL.O to develop new energy solutions for its U.S. operations, the companies said on Monday

** NEE expects higher adjusted earnings in 2026 and the current year, driven by strong power demand

** Median PT of 26 brokerages covering the stock is $93.5 - data compiled by LSEG

TECH TIES FUEL NEXTERA'S CHARGE

** Citigroup ("buy," PT: $96) expects the Google partnership to help co run its power grid more efficiently, saving about $150 million a year, and possibly earn extra revenue by offering the software to other companies

** Morningstar (fair value: $75) expects co to develop 4–8 gigawatts of new natural gas capacity between 2030 and 2032 with recent deals with Google GOOGL.O, Meta META.O, Comstock Resources CRK.N and Basin Electric Power Cooperative strengthening its ability to meet that goal

** Morgan Stanley ("overweight," PT: $97) says data center projects to remain the key priority in the coming years, with tax credit concerns in the 2030s becoming less significant

** BTIG ("buy," PT: $100) says "given NEE's track record of execution and numerous upside drivers we think that co could do better than its stated growth rate over time"

(Reporting by Kanishka Ajmera in Bengaluru)

((Kanishka.Ajmera@thomsonreuters.com))

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