BofA raised the firm’s price target on PPL Corp. (PPL) to $35 from $34 and keeps a Buy rating on the shares. The firm was “surprised by the weak trading reaction” to PPL’s Q3 update as it thought the in line Q3 EPS, FY24 EPS midpoint increase in a tighter $1.67-$1.73 FY24 EPS range and broader commentary regarding capital and earnings upside levers from datacenter opportunities should have supported the stock, the analyst tells investors in a post-earnings note.
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