J.P. Morgan Increases Price Target On Westar Energy Inc

Westar Energy, Inc. WR getting ready to look past 2011, but waiting for more clarity. In a research note, J.P.Morgan writes,"We are updating our investment opinion on Westar Energy and establishing a December 2011 price target of $25 per share. We expect Westar to continue to benefit from its supportive regulatory environment and rate-making mechanisms that limit regulatory lag on a substantial portion of its capital spending. As the company's asset base continues to expand at a rapid clip, however, so should its cost structure, which we anticipate would pressure its results in the absence of rate relief next year. Accordingly, we reiterate our Neutral rating on WR shares." WR are currently trading higher at $24.63