Mizuho lowered the firm’s price target on PPL Corp. to $28 from $32 and keeps a Buy rating on the shares. Last week the Kentucky legislature passed SB 4 which would require utilities to receive permission from the Kentucky Public Service Commission before retiring a fossil fuel-fired electric generating unit, the analyst tells investors in a research note. The firm dropped the price target to reflect current market multiples.
Published first on TheFly
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