PPL Corp. price target raised to $33 from $31 at BofA

BofA raised the firm’s price target on PPL Corp. to $33 from $31 on Friday, while keeping a Buy rating on the shares. The firm notes PPL reported Q2 EPS ahead of BofA/consensus estimates. On the investor call, PPL addressed data center demand growth, the importance of resource adequacy given recent capacity prices in PJM, the IRP in KY anticipated to be filed in October 2024, and the approval of the Long-Term Infrastructure Improvement Plan modification in PA.