2022-07-07 08:42:02 PPL PPL Corp.
07/07/22 07/0708:42 07/07/2208:42 | PPL Corp. upgraded to Outperform at Evercore ISI with re-rating expectedEvercore ISI analyst Durgesh Chopra upgraded PPL Corp. to Outperform from In Line with a price target of $30, down from $31. Following a restructuring, selling its UK business last June 14 and using part of the proceeds to acquire a Rhode Island based utility this May, he believes the shares should command a higher valuation than currently reflected in the stock and are "ripe for a re-rate," Chopra tells investors. With minimal regulatory risk until 2025, no equity issuance, and "a much simpler execution story," he expects PPL shares to benefit from incremental investor interest in a volatile market, the analyst added. |
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