Mizuho initiated coverage of Evergy (EVRG) with an Outperform rating and $67 price target The shares currently trade at a 12% price-to-earnings discount to the electric utilities group, and can re-rate to a low-single-digit discount in the near-term and potentially an in-line multiple in the long term, the analyst tells investors in a research note. Evergy can find capital investment opportunities to grow rate base and earnings in line with peers, and Kansas’ utility regulation continues to improve, says the firm.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EVRG:
- Evergy announces two new 705MW high efficiency natural gas plants
- Evergy price target lowered to $65 from $67 at Barclays
- Evergy price target raised to $69 from $65 at Wells Fargo
- Evergy files to sell 2.27M shares of common stock for holders
- Evergy Expands Board with Strategic Leadership Appointments