NextEra Energy PT Raised to $104 on Data Center Demand; Backlog Hits 30GW
UBS raised NextEra Energy’s price target to $104 from $91, citing surging power demand from data centers. NextEra posted 8.2% adjusted EPS growth to $3.71 in 2025, expanded its generation and storage backlog by 13.5 GW to 30 GW and forecast 2026 EPS of $3.92–$4.02 with 10% dividend growth.
1. UBS Price Target Increase
On March 5, UBS increased NextEra Energy’s price target to $104 from $91 with a Buy rating, highlighting rising power demand from large-scale data center customers and the competitive advantages of its NEER segment’s multi-technology scale.
2. 2025 Financial Results
NextEra delivered adjusted EPS of $3.71 in 2025, an 8.2% year-over-year increase, and reported Q4 GAAP net income of $1.535 billion, driven by strong execution across both its regulated utility and competitive energy businesses.
3. Growth Outlook and Backlog Expansion
The company added 13.5 GW to its generation and storage backlog for a total of roughly 30 GW, plans to recommission the Duane Arnold nuclear plant via a power purchase agreement with Google, and projects 2026 EPS of $3.92–$4.02 alongside a 10% dividend growth rate.