PPL Corporation: Long-Term Targets On Track, Shares Near Fair Value

PPL Corporation (PPL) maintains a Hold rating as shares trade near intrinsic value and historical valuation metrics. Q1 results were solid, with EPS and revenue beats, and management reaffirmed 6%-8% annual EPS growth through 2029. Data center-driven load growth and regulatory progress support PPL's $23 billion capex plan, but risks include rate-case outcomes and financing costs.