Scotiabank says NextEra Energy's outlook safe from impact of Trump's bill
Scotiabank says its confident that utility NextEra Energy's NEE.N near-term outlook for renewable capacity additions remains on track
Trump's One Big Beautiful Bill Act (OBBB) provides for 100% tax credits for wind and solar through mid-2030 and for storage through 2037 if developers have safe harbored equipment - Scotiabank
Brokerage adds that since NEE has safe harbored through the end of 2029, management believes it makes the concerns from the executive order, which was signed on Monday, unlikely to be impactful for the company for years
"In our view, NEE is also well-positioned to benefit from project pull-forwards and market share gains," - Scotiabank
Expects pace of NEE's earnings per share growth to remain strong, likely 8% to 10%, which would be faster than most utility peers
14 of 22 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell"; median PT is $80 - data compiled by LSEG
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