BMO raises PPL stock price target to $41 on Kentucky rate case

BMO Capital has increased its price target for PPL Corp (NYSE:PPL) to $41 from $40, maintaining an Outperform rating, following the Kentucky Public Service Commission’s decision on the KU/LG&E rate case. The commission modified the proposed stipulation by slightly reducing the allowed return on equity and capital riders, leading to a minor reduction in the total revenue increase. Despite these adjustments, BMO Capital analysts generally view the changes as minor and de-risking for PPL’s calendar, especially with the company’s earnings report coming soon and a bullish analyst consensus.

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