PPL Corp. initiated with an Outperform at Evercore ISI

Evercore ISI analyst Nicholas Amicucci initiated coverage of PPL Corp. (PPL) with an Outperform rating and $43 price target The company is seen as the primary beneficiary of the energy infrastructure build out within the PJM through its ability to provide the transmission/distribution and generation needed to support the inevitable build out within the region, the analyst tells investors in a research note. Rate base across its jurisdictions is expected to grow by about 9.8% annually through 2028, driving annual EPS growth of 6%-8%, the firm added.