Upgrade Alert for PPL (PPL)
PPL (NYSE:PPL) was upgraded from Peer Perform to Outperform at Wolfe Research today. The stock closed yesterday at $34.13 on volume of 5.1 million shares, above average daily volume of 3.7 million.
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.
Over the past year, PPL has traded in a range of $29.18 to $39.92 and closed yesterday at $34.13, 17% above that low. The 200-day and 50-day moving averages have moved 0.42% higher and 0.48% higher over the past week, respectively.
PPL (NYSE:PPL) has potential upside of 5.5% based on a current price of $34.13 and analysts' consensus price target of $36.00. The stock should find initial resistance at its 200-day moving average (MA) of $34.17 and further resistance at its 50-day MA of $36.95.
SmarTrend recommended that its subscribers protect gains by selling shares of PPL on June 24th, 2016 by issuing a Downtrend alert when the shares were trading at $37.73. Since that call, shares of PPL have fallen 10.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades