Truist initiates Evergy and PPL with Buy ratings on growth potential
Truist started coverage of Evergy and PPL with Buy ratings and price targets of $97 and $41, citing growth upside in the utilities.
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what happened
According to Seeking Alpha, Truist initiated coverage of Evergy and PPL Corp. with Buy ratings. The price targets are $97 for Evergy and $41 for PPL. Both shares edged higher on Tuesday.
Analyst Richard Sunderland sees Evergy offering compelling earnings upside and room for a higher valuation multiple. He credits new data center agreements and additional generation projects as support. For PPL, he points to new rates across its jurisdictions, economic development prospects in Kentucky, and the Invitium joint venture.
Sunderland also argues that PPL's stock looks attractive relative to growth expectations and the top end of guidance.
why it matters
This is one brokerage's analytical view rather than a company announcement. Still, the focus on data center demand and new generation reflects a theme that much of the power sector is watching as utilities plan their growth.
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- Evergy, PPL started with Buy ratings at Truist on growth upside potential — Seeking Alpha, 27 October 2026 at 18:56 UTC
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