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Barclays Reaffirms Overweight Rating on Evergy (EVRG)

Evergy Inc. (NASDAQ:EVRG) is one of the 10 best regulated electric stocks to buy according to hedge funds.

As of the March 13 closing, Evergy Inc. (NASDAQ:EVRG) carried a moderately bullish consensus sentiment. 6 of the 9 analysts who provided coverage assigned a Buy rating to the stock, while 3 gave Hold calls. With no Sell rating, it has an estimated 1-year median target price of $87.44.

Copyright: kadmy / 123RF Stock Photo

On March 9, Barclays reaffirmed an Overweight rating on Evergy Inc. (NASDAQ:EVRG). The firm also increased its target price on the stock from $82 to $89. The firm acknowledged the company’s base plan, which supports the 8% bottom-line growth target set by the company.

Back on February 23, BMO Capital increased its price target on Evergy Inc. (NASDAQ:EVRG) to $87 from a previous target of $82. The firm maintained its Outperform rating on the company’s shares after its fourth-quarter results.

BMO Capital noted that the company’s results were impacted by unfavorable weather conditions by 2c, convertible notes dilution, and overall demand headwinds. However, investors seemed to be more focused on the company’s outlook, which remained positive.

Evergy Inc. (NASDAQ:EVRG) powers various sectors by generating and distributing electricity from a diverse energy portfolio. Their operations span traditional sources like coal and natural gas, as well as renewable sources like wind and solar. By serving residential, industrial, and municipal clients, they maintain a critical role in providing essential utility services and infrastructure.

While we acknowledge the risk and potential of EVRG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EVRG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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