Ladenburg upgraded Evergy (EVRG) to Buy from Neutral with a price target of $68.50, up from $59. The firm says that since its initiation in April 2024, its forecast of customer demand growth has increased to between 2%-3% from 2% and rate base growth has increased to 8% from 6%. The improvement reflects Evergy’s recent announcements for data centers that has led to higher capex spending, the analyst tells investors in a research note. Ladenburg points out Evergy has identified up to 6,000 MW of added potential load driven largely by artificial intelligence and data centers.
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Read More on EVRG:
- Evergy Announces Major Leadership Changes and Transitions
- Evergy Reports Strong Q3 2024 Earnings and Growth Plans
- Evergy Reports Strong Q3 Earnings and Investment Plans
- Evergy reports Q3 EPS $2.02, consensus $1.93
- Evergy increases quarterly dividend 4% to 66.75c per share
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
