Jefferies Upgrades PPL Corp (PPL) to Buy

Jefferies upgraded PPL Corp (NYSE: PPL) from Hold to Buy with a price target of $34.00 (from $34.50).

Analyst Anthony Crowdell commented, "We are upgrading PPL to Buy and believe the stock should trade at a group average multiple given the recent spinoff of its unregulated business and the above average rate base growth. The stock currently trades at a 6% discount to other regulated utilities and we believe this is a good entry point for investors. While waiting for the stock to appreciate investors will receive one of the highest yields in the space."

The firm trimmed FY 2015 EPS from $2.25 to $2.15.

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 $30.53 yesterday.

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