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Fly News Breaks for October 8, 2019
TERP, NEP
Oct 8, 2019 | 06:15 EDT
Barclays analyst Moses Sutton upgraded NextEra Energy Partners (NEP) to Overweight from Equal Weight with a price target of $61, up from $52. NextEra Energy's underperformance relative to TerraForm Power (TERP) "has become a compelling opportunity," Sutton tells investors in a research note. At this point, from numerous perspectives, including price performance, relative yield, and 2020-2021 growth visibility, NextEra Energy screens as the best way to gain an outsized total return in the YieldCos group, contends the analyst. As a result, the analyst upgraded NextEra Energy Partners to Overweight and downgraded TerraForm Power to Equal Weight.