Jefferies Upgrades PPL Corp (PPL) to Buy

February 3, 2014 7:22 AM EST
Get Alerts PPL Hot Sheet
Price: $34.40 +0.50%

Rating Summary:
    7 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies upgraded PPL Corp (NYSE: PPL) from Hold to Buy with a price target of $34.00 (from $33.00).

"We are upgrading PPL to Buy from Hold based on the free option that investors get if the company is able to spin-off its unregulated supply business," analyst Paul B. Fremont said. "Management has forecasted PPL's unregulated generation to be break-even beginning in 2015 and we believe the market is currently ascribing no value to these assets."

Despite the upgrade, the firm trimmed FY 2014 EPS form $2.15 to $2.10.

For an analyst ratings summary and ratings history on PPL Corp click here. For more ratings news on PPL Corp click here.

Shares of PPL Corp closed at $30.57 yesterday.

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