PPL Corp. (PPL) Appears Attractive Following Sector Wide Underperformance

PPL Corp. (NYSE:PPL) is one of the 11 best regulated electric stocks to buy now.

On May 21, Morgan Stanley analyst David Arcaro reduced the firm’s price target from $43 to $40 on PPL Corp. (NYSE:PPL). However, the analyst maintained an Overweight rating on the stock. This valuation adjustment follows the company’s broader April updates of price targets across North American Regulated & Diversified Utilities and IPPs. In detailing the updated industry outlook, Arcaro noted, relative to the S&P’s overall return during the month the utility sector noticeably underperformed.

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On May 11, the price target on PPL Corp. (NYSE:PPL) was reduced from $42 to $40 by BMO Capital, resulting in a revised upside potential of more than 14% . The firm maintained an Outperform rating on the stock following the first-quarter results.

BMO Capital noted that management reiterated its earnings per share (EPS) growth projections of 6%–8%, along with other financial estimates, till at least 2029. The firm also shared its persistent outlook for performance near the upper end of the range and emphasized the incremental growth opportunities that could prove a driving factor in the company’s existing plan.

PPL Corp. (NYSE:PPL) is involved in electricity generation, transmission, and distribution within different regions across the United States. It engages in the wholesaling of electricity that is produced from gas, coal, solar, and hydro sources. The company also distributes and sells natural gas.

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