Argus raised the firm’s price target on PPL Corp. to $33 from $30 and keeps a Buy rating on the shares. The company stands to benefit from a solid performance and sector rotation on news of interest-rate declines, the analyst tells investors in a research note. Argus adds that PPL has been successful in cutting costs, and the company’s earnings growth should gain strength from its larger rate base as the utility focuses on updating infrastructure and improving reliability.
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