PPL Corp. price target raised by $3 at Wells Fargo, here’s why

Wells Fargo raised the firm’s price target on PPL Corp. to $32 from $29 and keeps an Overweight rating on the shares. The firm thinks PPL should command a 5% price-to-earnings multiple premium relative to peers. Wells’ model work suggests that its 7%-plus EPS CAGR estimate is highly visible, especially vs. peers.