J.P. Morgan Maintains Neutral Rating On GXP

J.P. Morgan is maintaining its Neutral rating on Great Plains Energy GXP in light of a seemingly supportive rate order in KCP&L-Missouri's pending rate case by the Missouri Public Service Commission. According to J.P. Morgan, “We will update our estimates following the release of additional information by the Commission. In the meantime, we expect GXP shares to modestly outperform their peers in trading tomorrow, but note that the lack of complete information about the magnitude of the rate increase is likely to temper enthusiasm. We maintain our Neutral rating.” GXP closed at $20.99 yesterday.