BofA Merrill downgraded PPL Corp (NYSE:PPL) from Buy to Neutral in a report released today.
- Updated: November 27, 2016
BofA Merrill has downgraded PPL Corp (NYSE:PPL) from Buy to Neutral in a report released on Tuesday November 22, 2016.
Previously on Monday February 29, 2016, Barclays Capital reported about PPL Corp (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 Corp (NYSE:PPL) traded 1.55% higher at $33.34. PPL Corp’s 50-day moving average is $33.36 and its 200-day moving average is $35.91. The last stock price is down -7.22% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.03% over the same time period. 1,783,866 shares of the stock traded hands, down from an average trading volume of 4,883,690
See Chart Below
PPL Corp 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 BofA Merrill reporting its stock price target, a total of 15 brokers have issued a research note on the company. The average stock price target is $39.00 with 6 brokers rating the stock a strong buy, 2 brokers rating the stock a buy, 10 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About PPL Corp (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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.