S&P Capital IQ on April 28 upgraded its view onNextEra Energy Inc.shares to "hold" from "sell" and raised its 12-month pricetarget on the company by $12 to $114 per share on higher peer valuations.

The firm also revised its 2016 EPS estimate for NextEraEnergy by 11 cents to $6.25, but maintained its 2017 estimate of $6.54. "Weexpect new project development and utility capital spending to help drive EPSgrowth," S&P Capital IQ analysts wrote.

NextEra Energy recently reported first-quarter EPS of $1.55, beating S&PCapital IQ's EPS estimate of $1.29.

S&P Capital IQ andS&P Global Market Intelligence are owned by S&P Global Inc.