Jefferies Raises PT From $30 to $32 on shares of PPL Corp.

Jefferies & Company has raised its price target from $30 to $32 on shares of PPL Corp. (PPL). Jefferies states,"We find PPL shares undervalued, trading at a significant discount to our average open EV/EBITDA multiple for integrated merchant names as well as a P/E discount. With lower risk following the acquisition of the Kentucky utilities and the UK regulated business, we believe the discount should narrow." Shares of PPL Corp. closed at 27.43 on Friday.