UPDATE: Wunderlich Securities Lowers Great Plains Energy's PT

According to a research report published earlier today, Wunderlich Securities has lowered Great Plains Energy Inc.'s

PT from $22 to $21. In the report, Wunderlich Securities mentioned, “Great Plains Energy (

) reported 4Q EPS of $0.01 versus $0.06 (excluding charges) a year ago (our/consensus estimate was $0.05/$0.02). The lower-than-expected results reflected lower sales and higher costs. GXP also reduced 2012 EPS guidance to $1.20-$1.40 from $1.35-$1.55 previously, citing lower wholesale sales expectations and weaker retail demand. GXP has wholesale market exposure at its KCP&L Missouri operations. We are reducing our 2012/2013 EPS estimates to $1.30/$1.67 from $1.50/$1.75 previously. GXP filed rate cases on Monday to reduce regulatory lag in 2013. We are reducing our target price on GXP to $21 from $22 to reflect the lower estimates and a higher valuation discount.” Wunderlich Securities maintains its Hold rating on Great Plains Energy, which closed yesterday at $19.82.