Bank of America (Merrill Lynch) downgraded PPL Corporation (NYSE:PPL) from Buy to Neutral in a report released today.
- Updated: November 27, 2016
Bank of America (Merrill Lynch) has downgraded PPL Corporation (NYSE:PPL) from Buy to Neutral in a report released on Tuesday November 22, 2016.
Previously on 2/29/2016, Barclays Capital reported about PPL Corporation (NYSE:PPL) lowered the target price from $41.00 to $39.00. At the time, this indicated a possible upside of 0.12%.
Yesterday PPL Corporation (NYSE:PPL) traded 1.55% higher at $33.32. The company’s 50-day moving average is $33.36 and its 200-day moving average is $35.91. The last stock close price is down -7.22% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time. 1,783,866 shares of the stock were exchanged, down from an average trading volume of 4,883,690
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PPL Corporation has a 52 week low of $32.08 and a 52 week high of $39.92 with a P/E ratio of 12.38 The company’s market cap is currently $0.
In addition to Bank of America (Merrill Lynch) reporting its target price, a total of 15 firms have reported on the stock. The consensus target price is $39.00 with 6 firms rating the stock a strong buy, 2 firms rating the stock a buy, 10 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About PPL Corporation (NYSE:PPL)
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K. Regulated Segment, Kentucky Regulated Segment and Pennsylvania Regulated Segment. The U.K. Regulated Segment comprises PPL Global, which includes PPL WPD Limited and its subsidiaries' regulated electricity distribution operations, among others. The Kentucky Regulated segment consists of the operations of LG&E and KU Energy LLC, a subsidiary of PPL, which owns and operates regulated public utilities engaged in the generation, transmission, distribution and sale of electricity and distribution and sale of natural gas. The Pennsylvania Regulated segment consists of the operations of PPL Electric Utilities Corporation, which distributes and transmits electricity.
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