Jefferies Downgrades PPL Corp (PPL) to Hold

April 30, 2012 7:16 AM EDT
Get Alerts PPL Hot Sheet
Price: $34.36 --0%

Rating Summary:
    7 Buy, 13 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies downgraded PPL Corp (NYSE: PPL) from Buy to Hold with a price target of $27.50 (down from $31.50).

The firm comments, "We are downgrading PPL to Hold from Buy due to valuation. Following a recent update of our forecast model for natural gas and power prices we are assuming a lower contribution from the company’s Supply (unregulated) business."

FY12 EPS goes from $2.35 to $2.30.

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 $27.31 yesterday.

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