Market Overview

UPDATE: JP Morgan Upgrades Great Plains Energy to Overweight; Missouri Risk Priced In

Related GXP
Great Plains Energy Misses on Earnings, Beats Revs - Analyst Blog
Mid-Morning Market Update: Markets Rally; Hillshire Brands To Acquire Pinnacle Foods For $6.6B

JP Morgan raised its rating on Great Plains Energy (NYSE: GXP) from Neutral to Overweight and increased its price target from $23 to $26.

JP Morgan noted, "We are still months away from the final expected January 2013 ruling on the Missouri rate cases and have yet to see the company's expected 4Q true-up adjustments. However, staff recommendations in both MO and KS provide an approximate floor for the final outcomes and would drive 2013 EPS to a level only slightly below current consensus of $1.64, according to our estimates, implying relatively conservative assumptions."

Great Plains Energy closed at $21.76 on Tuesday.

Posted-In: JP MorganAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (GXP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters