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SunTrust Robinson Humphrey initiates Evergy coverage at 'buy'

SunTrust Robinson Humphrey on June 5 started coverage of Evergy Inc. at "buy."

Evergy is the resulting entity from the merger of Great Plains Energy Inc. and Westar Energy Inc. The "buy" rating is the investment opinion of SunTrust on Great Plains Energy pre-merger closing, analyst Ali Agha said in an investment note.

SunTrust has a $61 price target on Evergy.

"The capital appreciation implied in our price target, coupled with the implied dividend yield, equates to a total return potential of over 16% for investors," Agha said.

The analyst estimates full-year earnings of $2.35 per share in 2018, $3.06 per share for 2019 and $3.41 per share for 2020.