UBS Downgrades PPL Corp (PPL) to Neutral

March 11, 2013 7:16 AM EDT
Get Alerts PPL Hot Sheet
Price: $34.36 -0.12%

Rating Summary:
    7 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 17 | New: 13
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UBS downgraded PPL Corp (NYSE: PPL) from Buy to Neutral with a $31 price target.

The firm comments, "Since announcing cost-cutting measures, no need for incremental equity above a DRIP in forward years, and better than expected UK results on its 2Q12 call, PPL has outperformed the UTY index by nearly 8%. Although we expect further positive developments from a potential MT asset sale (likely summer if successful) and enhanced clarity on its UK proposed business plan filing around its July 1st filing, we view the shares as having closed the valuation gap with the group."

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 $30.64 yesterday.

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