Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - RBC Capital initiated coverage on Evergy (NASDAQ:EVRG) with an Outperform rating and a $93.00 price target on Monday. The utility company, currently trading at $78.31 and commanding a market capitalization of $18 billion, is trading near its 52-week high of $79.32.
The investment firm cited Evergy’s significant progress in modernizing regulatory frameworks as a key factor in its positive outlook for the utility company. The stock has demonstrated strong fundamentals, maintaining 21 consecutive years of dividend growth with a current yield of 3.42%.
RBC Capital believes Evergy is "on the cusp of announcing significant additional large load service agreements" that could substantially increase both load growth and capital budget.
The firm highlighted a substantial opportunity set of 600MW and $3 billion in capital relative to the company’s size.
According to RBC Capital, Evergy has "the best torque under coverage to large load announcements" compared to other companies in its coverage universe.
In other recent news, Evergy reported its second-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.82, which fell short of the forecasted $0.88. The company’s revenue also missed expectations, coming in at $1.43 billion compared to the anticipated $1.44 billion. Despite these shortfalls, Evergy reaffirmed its full-year EPS guidance range of $3.92-$4.12 and outlined its growth and infrastructure plans. In related developments, Mizuho raised its price target for Evergy to $77 from $74, maintaining an Outperform rating following the company’s strong Q2 results.
Additionally, Jefferies increased its price target for Evergy to $87 from $77, citing a 7% outperformance against utility peers, attributed to successful regulatory outcomes and progress with large customers. UBS reiterated its Buy rating and a price target of $81, suggesting potential growth from data centers could increase Evergy’s growth rate to 6-8% from the current 4-6%. Furthermore, Evergy signed a memorandum of understanding with TerraPower and the Kansas Department of Commerce to explore the siting of TerraPower’s Natrium reactor and energy storage system in Kansas. This exploration aims to evaluate the feasibility of an advanced nuclear power plant within Evergy’s service territory.
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