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.
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