** Shares of XPLR Infrastructure NEP.N slide over 9% to $10.74
** XPLR, formerly called NextEra Energy Partners and formed by utility firm NextEra Energy NEE.N, works to acquire, manage and own contracted energy projects
** Brokerages Wells Fargo and Scotiabank lower their PTs on co, following NEP's decision to reposition business to focus on funding renewable energy investments rather than raising capital
** Wells Fargo slashes PT by 60% to $13 from $33; says it may take a while for shareholder base to turn over
** Brokerage says co's decision to suspend distribution is a "painful but prudent move" as it provides NEP with more flexibility to pursue capital investment opportunities
** Scotiabank lowers PT to $12 from $15; says it is struggling to craft a bullish thesis for NEP, which now offers no yield, negative EBITDA and FCF growth for the next two years and a flat outlook for 2026-2030
** NEP now trades "in a category of its own, and not in a good way", says Scotiabank
** NEP stock has fallen over 36% since Jan. 23 when it announced decision to rename itself
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com;))
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