Evergy downgraded to Neutral from Buy at UBS

UBS analyst William Appicelli downgraded Evergy (EVRG) to Neutral from Buy with a price target of $88, up from $86. The firm sees less room for upside following the company’s strong regulatory performance and share price strength over the past year. Evergy is now trading at an in-line multiple, which appropriately prices in its earnings growth of 7%-8%, the execution risks from here and the improved regulatory backdrop, the analyst tells investors in a research note.