- NextEra Energy (NYSE:NEE) could become the first utility to reach a $100B market cap if the Argus Research team has its way, as the firm raises its share price target on the Buy-rated stock to $200 from $190.
- Argus cites new growth opportunities at the non-regulated NextEra Energy Resources business and at the NextEra Energy Partners (NYSEMKT:NEP) limited partnership as contributing to NEE's earnings growth and supporting its dividend.
- The firm also raises its 2019 EPS estimate to $8.37 from $8.32 based on continued capacity additions and sets its 2020 EPS estimate at $9.06, with a five-year earnings growth rate forecast of 7%.
- Argus sees NEE as a combination of a successful regulated utility with a faster-growing renewables business with a solid record of dividend increases, and forecasts dividend growth of 12%-14% through 2023.
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