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Fly News Breaks for July 19, 2017
PPL
Jul 19, 2017 | 05:33 EDT
Jefferies analyst Anthony Crowdell upgraded PPL Corp. to Buy and raised his price target for the shares to $42 from $39.50. The analyst cites valuation for the rating change, saying the stock's 12% discount to peers is unwarranted given that currency risk is "translational, not transactional," and the company is largely hedged through 2020. He notes that a regulated story growing earnings at 5%-6% and paying a 4.2% yield is hard to find.
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