Three months ago, Samsung have released a firmware update for the Galaxy S5 Neo. With the update, they brought the March Security patch for the device, even though many other devices have not received the February patch by then.
Also, the device has been spotted on GFXBench, with a model number SM-G903. The list of the benchmarking revealed that the device has been tested with the Android 7.0 Nougat. This could only confirm the rumor that the device could receive the update for its own.
Even though the device seems a bit old, having two years passed from its release date, it still seems that the device is more than capable of running Nougat. Also, the device has the same specifications as the Galaxy A5 (2016) which is definitely receiving the Android 7.0 Nougat.
Samsung have still confirmed nothing connected to this rumor, but it could be only a matter of time before the Galaxy S5 Neo receives its own Android 7.0 Nougat.