From Financial Modeling Prep: 2025-01-02 08:22:00

Ladenburg Thalmann analysts upgraded Evergy (NASDAQ:EVRG) to Buy from Neutral, setting a price target of $68.50. Optimism is driven by increased rate base growth and strong demand projections due to investments in AI and data center infrastructure.

Evergy’s customer demand growth forecast has improved to 2%-3% since April 2024, up from 2%, with projected rate base growth at 8%, compared to the previous estimate of 6%. Recent capital expenditures include two gas-fired CCGT plants with 1,410 MW capacity and 324 MW of new solar generation.

Up to 6,000 MW of potential additional load has been identified by Evergy, mainly from increased demand tied to AI and data center development. The company is strategically positioned to meet the growing energy needs of advanced technologies.



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