Analyst Alex Kania from BTIG reiterated a Buy rating on PPL and keeping the price target at $44.00.
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Alex Kania has given his Buy rating due to a combination of factors tied to regulatory progress and growth prospects. He views the tentative Pennsylvania rate case settlement as removing a major source of uncertainty for 2026, particularly because most key stakeholders either support or do not contest the agreement, and remaining objections are narrowly focused on a specific load-related proposal.
In his view, once this settlement is finalized, PPL’s main remaining regulatory risk will be the Rhode Island case, which affects a relatively small portion of the overall rate base. At the same time, he highlights that PPL trades at valuations similar to peers despite stronger large-load growth potential in its Northeast Pennsylvania territory and additional upside from its Blackstone joint venture on contracted generation, which he believes is not fully reflected in the current share price.
In another report released on March 5, Evercore ISI also maintained a Buy rating on the stock with a $44.00 price target.