Pennon Group plc (PNN) Price Target Cut to GBX 910
Pennon Group plc (LON:PNN) had its price objective reduced by analysts at HSBC from GBX 990 ($12.37) to GBX 910 ($11.37) in a research report issued on Monday. The brokerage presently has a “buy” rating on the stock. HSBC’s target price suggests a potential upside of 13.47% from the company’s current price.
Several other brokerages have also recently commented on PNN. Citigroup Inc. raised shares of Pennon Group plc to a “neutral” rating in a report on Wednesday, November 16th. Beaufort Securities reaffirmed a “buy” rating on shares of Pennon Group plc in a report on Thursday, September 22nd. Credit Suisse Group AG raised shares of Pennon Group plc to a “neutral” rating and raised their target price for the stock from GBX 790 ($9.87) to GBX 800 ($10.00) in a report on Wednesday, November 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a GBX 900 ($11.24) target price on shares of Pennon Group plc in a report on Wednesday, September 7th. Finally, BNP Paribas reiterated an “outperform” rating and set a GBX 950 ($11.87) price target on shares of Pennon Group plc in a research report on Tuesday, September 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 875 ($10.93).
Shares of Pennon Group plc (LON:PNN) opened at 808.00 on Monday. Pennon Group plc has a 12 month low of GBX 761.00 and a 12 month high of GBX 958.00. The firm’s 50 day moving average is GBX 826.72 and its 200 day moving average is GBX 860.55. The company’s market cap is GBX 3.33 billion.
In other news, insider Loughlin,Christopher sold 16,040 shares of Pennon Group plc stock in a transaction on Thursday, August 25th. The shares were sold at an average price of GBX 882 ($11.02), for a total transaction of £141,472.80 ($176,752.62).
About Pennon Group plc
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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