BTIG on PPL Corp (PPL): 'Looking for Rate Case Clarity in PA Today'

BTIG analyst Alex Kania reiterated a Buy rating and $45.00 price target on PPL Corp (NYSE: PPL).

The analyst comments "PUC decision expected today on PPL's PA rate case. PPL's PA rate case settlement is set to be considered by the PA PUC (and hopefully voted on) at its public meeting this morning. Notwithstanding Governor Shapiro's recent request to change rate case processes in future rate cases (see our notes here and here), this settlement has the support of almost all intervenors in the case including the Office of the Consumer Advocate and the PUC Staff. There is no opposition and only two intervenors did not sign on. Further, ALJ recommended that the PUC approve the settlement without modification (see our note here). If approved, the settlement would mean a ~4% average residential bill increase. Approval would be a positive for PPL, resolving its largest regulatory hurdle and allowing investor attention to turn to its core growth story in PA/KY and the generation JV. We remain Buy on shares of PPL."

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 $35.02 yesterday.

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