UPDATE: Citigroup Maintains Buy Rating on Great Plains Energy

Citi maintains a Buy rating on Great Plains Energy GXP and a price target of $23. Citi notes, “Over the past two days, we hosted a series of investor meetings with Great Plains Energy management throughout the West Coast. While there were no smoking guns, our meetings were constructive - reinforcing our positive stance on GXP shares. At this juncture, effectively navigating through the rate case process is the key priority over the next few months. A constructive outcome in the proceedings will signal a clear inflection point with the shares – the main driver of our thesis. Below we highlight key topics of discussion with our investor base through our two day marketing trip - several themes emerged.” Great Plains Energy closed at $20.86.