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Fly News Breaks for May 11, 2018
GXP, WR
May 11, 2018 | 07:27 EDT
As reported earlier, SunTrust analyst Ali Agha upgraded Great Plains Energy (GXP) to Buy from Hold and raised his price target to $36 from $35. The analyst notes that with the Westar (WR) merger nearing completion, a "significant" share buyback by the company should be expected, given that the companies had committed to repurchasing 60M shares of common stock within two years of their merger. Agha also expects the share buybacks and merger synergies to produce "above-average" EPS growth of 9% per year.
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