Pennon Group plc (PNN) Raised to “Neutral” at Credit Suisse Group AG
Credit Suisse Group AG upgraded shares of Pennon Group plc (LON:PNN) to a neutral rating in a research report report published on Wednesday. Credit Suisse Group AG currently has GBX 800 ($9.91) price objective on the stock, up from their prior price objective of GBX 790 ($9.79).
PNN has been the topic of a number of other reports. Deutsche Bank AG reaffirmed a buy rating and issued a GBX 900 ($11.15) price objective on shares of Pennon Group plc in a research note on Wednesday, September 7th. Investec raised Pennon Group plc to a buy rating and boosted their price target for the company from GBX 840 ($10.41) to GBX 920 ($11.40) in a research note on Wednesday, October 19th. Beaufort Securities reissued a buy rating on shares of Pennon Group plc in a research note on Thursday, September 22nd. HSBC reissued a buy rating and issued a GBX 990 ($12.26) price target on shares of Pennon Group plc in a research note on Tuesday, September 13th. Finally, JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 900 ($11.15) price target on shares of Pennon Group plc in a research note on Wednesday, September 7th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Pennon Group plc currently has a consensus rating of Hold and an average price target of GBX 873.46 ($10.82).
Pennon Group plc (LON:PNN) opened at 774.00 on Wednesday. The company has a 50 day moving average of GBX 842.89 and a 200 day moving average of GBX 861.09. Pennon Group plc has a 1-year low of GBX 762.50 and a 1-year high of GBX 958.00. The company’s market capitalization is GBX 3.19 billion.
In related news, insider Loughlin,Christopher sold 16,040 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of GBX 882 ($10.93), for a total transaction of £141,472.80 ($175,241.92).
Pennon Group plc Company Profile
Pennon Group Plc is an environmental infrastructure company. The Company operates through subsidiaries, which include South West Water Limited, Bournemouth Water Limited and Viridor Limited. The Company’s segments include Water and Waste management. Its water business comprises the regulated water and wastewater services undertaken by South West Water Limited and the regulated water services undertaken by Bournemouth Water Limited.
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