PPC appears on JP Morgan’s ‘radar’; latter issues buy recommendation, target price of 13.5€ per share

JP Morgan this week issued a “buy” recommendation for Public Power Corp. (PPC) stock, with a target price set at 13.5 euros per share.

In a report towards investors, JP Morgan refers to ATHEX-listed PPC as the biggest vertical utility in Greece, while adding that the partially owned company began a transformation in 2021 with announced investments of nine billion euros between the 2022-26 period.

The international financial services firm also cited the unforeseen events related to the 2022 energy crisis, with a subsequent market and political scene normalization, however, witnessing a 56-percent share price increase since the beginning of the year. In fact, the investment bank cited a prospect for an even greater over-performance.

Highlights in PPC’s upwards course are a near future – until 2027 – capacity of 5 GW in generated power from renewable energy sources and especially the acquisition of Enel Romania for 1.3 billion euros.