Wells Fargo Raises GXP Valuation Range To $20.50-$21.50

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Wells Fargo is raising its valuation range on Great Plains Energy (NYSE: GXP).“To reflect a rise in peer multiples, we are increasing our V.R. to $20.50-$21.50 from $19.00-$20.00,” Wells Fargo writes. “At the midpoint of our range, GXP would trade at ~12.9x our 2012E of $1.63, which is consistent with the median 2012 P/E of its small cap peers.“We continue to believe an in-line multiple is justified as GXP's strong EPS growth opportunities is offset by risk associated with pending rate cases in Missouri.”Great Plains Energy currently trades at $19.88.

27% profit every 20 days?

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