PPL Corp. initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of PPL Corp. (PPL) with an Overweight rating and $37 price target In addition to a “compelling opportunity” to transition existing coal into cleaner energy sources, PPL appears well positioned to benefit from sizeable wires investment needs across its portfolio, with data center connections poised to lower customer bills, the analyst tells investors in a research note. The firm believes PPL offers a “top-tier growth, low-risk investment profile, robust balance sheet, and notably lower than peers” storm and wild fire risk.