1/29/2010- Morgan Stanley analysts are raising their 2010-2012 EPS estimates for FPL Group (NYSE:FPL).

The bank now sees 2010-2012 EPS of $4.35, $4.60, and $4.80, up from $4.30, $4.50, and $4.70.

Analysts Greg Gordon and William Appicelli said, "FPL reported Q4'09 and FY '09 earnings of $0.79/sh and $4.05/sh, respectively. The company lowered the high end of its EPS guidance range for 2010, supporting $4.25-4.65 vs. $4.25-4.85. FPL is projecting a gross margin midpoint from NextEra of $4.2 bn in '10 and $4.2 bn (excluding new wind/solar) in '11, with roughly 5%/6% respectively forecasted to be generated from marketing and trading activities in power and gas. We estimate that this is worth $0.13/$0.16 to EPS in 10/11 and value the earnings at a lower multiple."

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