Evergy price target raised to $65 from $58 at Evercore ISI

Evercore ISI raised the firm’s price target on Evergy (EVRG) to $65 from $58 and keeps an In Line rating on the shares. The firm maintains a positive outlook for the power and utilities group, saying improving fundamentals and a favorable valuation backdrop should support outperformance through the first half of 2025. Factors such as inflation moderating, potential future interest rate cuts, and rising electricity demand are expected to act as tailwinds, the analyst tells investors in a research note. Evercore anticipates elevated investment in utility infrastructure, particularly driven by data centers, with more deals and announcements expected in 2025. It upgraded four names after rolling out 2024 earnings forecasts.