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S&P Capital IQ upgrades PPL shares

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S&P Capital IQ upgrades PPL shares

S&P Capital IQ on April 28 upgraded shares to "buy"from "hold" and increased the 12-month target share price to $40 from$37.

Full-year EPS estimates for PPL were also lifted by two centsto $2.35 for 2016, and by five cents to $2.45 for 2017. "We see EPS growthbeing driven by capital spending on regulated assets (37% in the UK)," thefirm said.

PPL recently reported first-quarter EPS of 67 cents, which missedS&P Capital IQ estimate of 73 cents.

S&P Capital IQ andS&P Global Market Intelligence are owned by S&P Global Inc.