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UPDATE: Macquarie Downgrades PPL; Price Target Remains Unadjusted

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In a note released Friday, Macquarie downgraded PPL (NYSE: PPL) from Outperform to Neutral and held the price target at $33.

Commenting on the overview of PPL, Macquarie analyst Angie Storozynski stated, "We recognize PPL's premium regulated utility story, but it seems fully priced into the stock at this point." Storozynski continued, "At this point we worry that PPL could be the odd man out in the PJM consolidation and we are unwilling to pay more for Supply's option value."

Looking to the coming years, Storozynski has raised 2015 EPS estimate slightly from $2.18 to $2.23 and has left 2016 estimates unchanged at $2.23.

Latest Ratings for PPL

DateFirmActionFromTo
Aug 2019UpgradesUnderperformNeutral
Jun 2019Initiates Coverage OnNeutral
May 2019MaintainsBuy

View More Analyst Ratings for PPL
View the Latest Analyst Ratings

Posted-In: Angie Storozynski MacquarieAnalyst Color Downgrades Price Target Analyst Ratings

 

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