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Downgrade Alert for PPL (PPL)

By David Diaz

PPL (NYSE:PPL) was downgraded from Buy to Neutral at Guggenheim today. The stock closed yesterday at $36.24 on volume of 4.9 million shares, above average daily volume of 3.7 million.

In the past 52 weeks, shares of PPL have traded between a low of $29.18 and a high of $39.92 and closed yesterday at $36.25, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.

PPL Corporation is an energy and utility holding company. The Company, through its subsidiaries, generates electricity from power plants in the northeastern and western United States, and markets wholesale and retail energy primarily in the northeastern and western portions of the United States, and delivers electricity in Pennsylvania and the United Kingdom.

PPL (NYSE:PPL) is currently priced 0.7% above its average consensus analyst price target of $36.00. The stock should find resistance at its 50-day moving average (MA) of $36.95, as well as support at its 200-day MA of $34.17.

SmarTrend is tracking the current trend status for PPL and will alert subscribers who have PPL in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades

Ticker(s): PPL