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Research Alert: CFRA Reiterates Hold Opinion On Shares Of Evergy, Inc.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our 12-month target by $5 to $89, 20.7x our next-12-month EPS estimate of $4.28, a discount to peers based on weaker EPS and dividend growth expectations. We raise our 2026 EPS view by $0.12 to $4.24 and raise 2027 EPS by $0.10 to $4.55. EVRG has raised its long-term load growth target significantly, expecting growth to accelerate from 3%-4% in 2026 to an average of 8%-9% from 2026 through 2030, up from the previous estimate of 7%. EVRG's 15GW+ pipeline is structured into tiers: Tier 1 includes ~3.0 GW of active operations and signed ESAs (Panasonic, Meta, Google (2 projects), Beale Infrastructure, and a premier developer) plus ~1.0-1.5 GW of expansion opportunities with these existing ESA customers; Tier 2 involves ~1.5-3.0 GW in advanced discussions, primarily beyond 2030; and Tier 3 represents over 10GW likely in-play post-2030. We expect 3.6% revenue growth in 2026 and 7.3% growth in 2027, led by the continued ramp of the Panasonic advanced manufacturing facility and data center customers.

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