Wunderlich Maintains Buy on Great Plains Energy Incorporated (GXP)

Wunderlich is out with its report today on Great Plains Energy Incorporated GXP, maintaining Buy. In a note to clients, Wunderlich writes, "A final order should be issued in KCP&L's Missouri rate case either April 12 or April 14. Great Plains shares have outperformed over the last week, ostensibly due to expected resolution of the KCP&L case. That said, we continue to believe constructive resolution of both Missouri cases should provide continued positive momentum for the stock. While we expect a tough 1Q due to remaining regulatory lag ahead of the Missouri orders, we would argue a weak 1Q is already largely reflected in the stock. Shares remain inexpensive, with catalysts beyond the Missouri orders in the form of 2012 earnings guidance, continued commitment to reducing regulatory lag, and management execution." Shares of GXP closed Wednesday at $20.65.