PPL Corp: Is A Bottom in Place at $25?

Filed under: Stocks to Buy

The shares of utility PPL Corp (PPL), first recommended on May 26, 2009 at a price of $30.56, appear to have put in a bottom at/near $25.



In late April, PPL Corp's shares fell significantly after it announced its purchase of Kentucky-based utilities Louisville Gas & Electric and Kentucky Utilities for $7.625 billion, contingent on approvals. The consensus is that the deals will be (at best) modestly dilutive for the first year, and PPL's shares fell roughly $4 to about $24.60 on the news. The deal is expected to close by the end of 2010.



Since early summer, PPL's have trended up slightly, including a push back above the key, 50-day moving average.

Continue reading PPL Corp: Is A Bottom in Place at $25?

PPL Corp: Is A Bottom in Place at $25? originally appeared on BloggingStocks on Fri, 17 Sep 2010 15:00:00 EST. Please see our terms for use of feeds.

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PPL - BloggingStocks - Kentucky - Louisville Gas & Electric - Public utility

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