PPL: De-Risked Core Utility with Visible EPS Growth and Regulatory Upside

Analyst James Thalacker of BMO Capital reiterated a Buy rating on PPL, boosting the price target to $42.00.

James Thalacker has given his Buy rating due to a combination of factors tied to PPL’s growth visibility and risk profile. Management continues to signal confidence in achieving the upper end of its 6–8% EPS growth objective, supported by a straightforward, fully regulated business model and constructive regulatory frameworks in key jurisdictions.

He also views recent developments in Pennsylvania, including the rate case settlement and Blackstone JV/legislative proposals, as meaningfully reducing regulatory uncertainty while creating potential earnings and valuation upside. With the equity financing largely completed, limited remaining case exposure, and the shares trading at a modest discount to peers, he considers PPL a de‑risked, core utility holding with favorable risk‑reward.

In another report released on March 6, BTIG also reiterated a Buy rating on the stock with a $44.00 price target.