- PPL Corp. ( NYSE: PPL ) extended gains and rose 3% amid a report that famed activist investor Elliott Investment Management has built a sizeable stake in the utility.
- Elliott is said to be one the 10 largest holders of PPL, according to traders, who cited a Bloomberg report. Discussions between the activist and the utility are said to be cordial.
- Elliott helped create an update business plan PPL released earlier Wednesday, according to the report, where the company outlined that it expects to generate annual earnings and dividend growth in the 6%-8% range through at least 2026.
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PPL Corp. stocks extends gains on report of activist Elliott stake in the utility