Evergy Downgraded to Neutral as Price Target Raised to $88
On February 13, UBS analyst William Appicelli downgraded Evergy from Buy to Neutral and increased the price target to $88 from $86. Appicelli noted limited upside after strong regulatory performance and share price gains, stating current multiples reflect 7–8% earnings growth and execution risks.
1. UBS Rating Revision
On February 13, UBS analyst William Appicelli downgraded Evergy from Buy to Neutral while raising the price target to $88 from $86.
2. Rationale Behind the Change
Appicelli cited limited upside potential after strong regulatory performance and share price gains, noting that current valuation multiples reflect expected earnings growth of 7–8% and execution risks.
3. Other Analyst Updates
On February 12, Bank of America raised its price target to $85 and maintained a Buy rating, forecasting Q4 adjusted EPS of $0.53; on January 23, RBC Capital cut its target to $91 from $93, preserving an Outperform rating.
4. Implications for Investors
The mixed set of analyst actions highlights divergent views on Evergy’s near-term growth prospects and valuation, suggesting investors may weigh regulatory outcomes and earnings forecasts when positioning.