Evergy initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Evergy (EVRG) with an Outperform rating and $75 price target The shares “check the boxes for a potential re-rating” with the path being a balanced outcome in the Kansas Central rate case, the analyst tells investors in a research note. The firm believes this will drive multiple expansion in the near term with additional visibility regarding Evergy’s economic development opportunities leading to both upward earnings revisions and multiple expansion thereafter.