Barclays Cuts PPL Price Target to $38

Barclays maintains its Overweight rating on PPL Corporation with a new target of $38, while shares are currently below that level, a 8.48% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:18 PM EDT

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Barclays cut its price target on PPL Corporation ($PPL) to $38 from $41 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $PPL is up 2.4% to date (from the $34.34 close on Oct 12, 2026).

PPL PPL Corporation

$35.17 +2.57% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, Barclays reiterated its Overweight rating on PPL Corporation with a price target of $38, down from $41.
Barclays's $38 price target implies 8.48% upside from PPL Corporation's ($PPL) current $35.03 share price.
Shares of PPL recently traded around $35.03, which is about 7.8% below Barclays' new target.
PPL Corporation, a utility provider for approximately 3.6 million customers, has a dividend rate of $1.14.

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PPL Corporation (NYSE: PPL) received an updated rating from Barclays on October 12, 2026. The firm reiterated its Overweight rating while lowering its price target from $41.00 to $38.00. This change reflects Barclays' view on the stock's potential, even as shares currently trade below this target.

Firm's Call on PPL Corporation

Barclays maintains its Overweight rating on PPL Corporation, now with a target of $38.00, down from the previous target of $41.00. The stock is currently trading at $35.03 as of October 16, 2026, which is about 7.8% below the new target.

Other Institutional Activity in PPL Corporation

Several other institutional investors have positions in PPL Corporation. Blackrock Inc. holds 67,100,264 shares valued at approximately $2.36 billion, having increased its stake by 3,875,668 shares. Vanguard Capital Management LLC owns 47,876,837 shares worth about $1.68 billion, with a rise of 679,640 shares. State Street Corporation has 40,497,920 shares valued at around $1.42 billion, having added 1,083,886 shares. Vanguard Portfolio Management LLC increased its holdings by 1,072,723 shares to 37,684,426 shares worth about $1.33 billion. T. Rowe Price Investment Management, Inc. also holds 32,432,874 shares valued at $1.14 billion, increasing its stake by 11,687,784 shares.

PPL Corporation Stock Up 1.6%

PPL Corporation's shares recently traded at $35.03, which is below the new target of $38.00 set by Barclays. This target reduction suggests a reassessment of the stock's outlook, especially as it is currently below the target price.

12-month forecast

$PPL price target

PPL Corporation daily closes and this analyst's $38 target. Not advice.

Recent Earnings

For the trailing twelve months, PPL Corporation reported revenue of approximately $9.4 billion and an earnings per share (EPS) of $1.69. The company achieved a net margin of 13.5% and a return on equity (ROE) of 8.6%. The next earnings report is scheduled for November 4, 2026, which may provide further insights into its financial performance.

Insider Buying and Selling at PPL Corporation

John Gregory Cornett, an officer at PPL Corporation, sold 7,051 shares on June 12, 2026, at an average price of $35.56, totaling around $250,734. This transaction occurred before the recent analyst activity.

Analysts Set New Price Targets

On September 15, 2026, RBC Capital initiated coverage on PPL Corporation with a Sector Perform rating and a target of $35.00. Morgan Stanley maintained its Overweight rating on September 18, adjusting its target from $42.00 to $39.00. Wells Fargo also maintained an Overweight rating on September 28, with a target raised from $43.00 to $44.00. Scotiabank initiated coverage on September 29 with a Sector Outperform rating and a target of $36.00. Barclays, on October 12, reiterated its Overweight rating with a target of $38.00.

About PPL Corporation

PPL Corporation is a utility company based in Allentown, PA, providing electricity and natural gas to about 3.6 million customers across the United States. The company operates in three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. Its recent analyst rating and target adjustments reflect ongoing assessments of its market position and performance.

Bottom Line

Investors should keep an eye on PPL Corporation's upcoming earnings report on November 4, 2026, for more insights into its financial health. Barclays' recent rating reiteration and target adjustment highlight the ongoing analysis of the stock's potential in the utilities sector.