My second look, I'd have to say TL instead of PL.
Not an awful lot of difference in the loops in the right vs left side of the top bar of the left letter for a P,
Just enough to allow intertwine of the L stem. Then the L skip loops at the bottom to be able to intertwine with the T and cover area w/o taking one large bold sweeping loop instead to do it.

No middle flag on the T for it to be an F,, unless I'm not seeing that too!,,just the same fancy leaf accent cut on both verticle stems of the letters.

That's tonite's verdict and only one drink in.