RBC Capital Markets has taken a bullish stance on Evergy. The bank initiated the utility stock with an Outperform rating. Analyst Stephen D’Ambrisi also set a price target of $93, suggesting Evergy stock could rise 19% from current levels. D’Ambrisi emphasized that future load growth will be aided by the progress Evergy has made in improving the regulatory environment in both Kansas and Missouri. This situation has historically pushed up valuations and contributed to earnings volatility, analysts wrote. “We believe EVRG has made significant progress in modernizing its regulatory framework and we are about to announce significant additional large load service contracts that are expected to significantly increase EVRG’s load growth and capital budget,” he added. “Given the large opportunities set relative to the company’s size, we believe EVRG has the best torque to meet large load announcements.” To fuel this growth, analysts believe the company could add approximately $3 billion in additional capital expenditures to its current financial plans. Evergy will report its third quarter financial results on Thursday, November 6th. D’Ambrisi said he expects compound annual earnings growth of 7.8% over the four years to 2029, which is significantly higher than current guidance. The analyst added: “We believe there may be further positive forecast revisions well above the expected range, especially for the remaining years of the five-year plan.” “While there is a clear possibility that EVRG’s stated EPS CAGR target may be increased, we do not believe any potential revision will materialize until the fourth quarter of 2025 at the earliest.”The stock has gained 27% in 2025. (Learn the best strategies for 2026 from inside the NYSE with Josh Brown and others on CNBC PRO Live. Tickets and information here ).
