NextEra Energy shares have slid while rival utilities climbed, and Morgan Stanley's David Arcaro holds a Street-high $110.00 target with an Overweight rating, implying 40.6% upside from $78.25. Third-quarter revenue grew just 1.6% to $8.09 billion, missing the $8.88 billion consensus, while adjusted EPS of $1.24 beat the $1.18 estimate for a sixth straight quarter. Arcaro's thesis rests on hyperscaler data center demand, FPL's capital execution and a backlog of nearly 36.7 gigawatts, while the pending Dominion Energy deal still needs several approvals and management expects $12 billion to $17 billion of equity needs through 2032. Of 21 analysts, 14 rate the stock Buy or Strong Buy, and the shares are down 1.18% year to date versus a 14.05% gain for the S&P 500.
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