Jefferies lowers PT on NextEra Energy on potential IRA repeal, tariff tensions

Jefferies lowers PT on renewable power company NextEra Energy NEE.N to $74 from $77

New PT still a 9.4% upside to stock's last close

Brokerage says that investors are focused on potential repeal of Inflation Reduction Act (IRA) and are worried about renewables under the Trump administration

Jefferies anticipates tariffs to impact the company given that it has been diversifying its supply chain more post-covid

"If NEE provides quantification of exposures, that would reduce the high degree of uncertainty" - brokerage

15 of 23 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell" or lower; median PT is $84 - data compiled by LSEG

Up till last close, stock down 5.5% YTD