Evergy upgraded to Buy from Neutral at UBS

UBS analyst William Appicelli upgraded Evergy (EVRG) to Buy from Neutral with a price target of $78, up from $68. The company should benefit from an improving regulatory backdrop in its Missouri jurisdiction while the implied valuation in Kansas appears “overly punitive” at a 24% discount, the analyst tells investors in a research note. The firm says the key for the stock remains investors becoming comfortable that the Kansas regulatory backdrop has stabilized. UBS sees an attractive entry point at current share levels.