Pennon Group plc’s (PNN) “Buy” Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG restated their buy rating on shares of Pennon Group plc (LON:PNN) in a research note issued to investors on Wednesday morning. Deutsche Bank AG currently has a GBX 870 ($11.24) price objective on the stock.
Other equities analysts also recently issued research reports about the company. Barclays PLC upped their target price on Pennon Group plc from GBX 770 ($9.94) to GBX 810 ($10.46) and gave the company an underweight rating in a report on Monday, June 12th. HSBC Holdings plc reiterated a buy rating and issued a GBX 960 ($12.40) target price on shares of Pennon Group plc in a report on Friday, July 21st. Morgan Stanley dropped their target price on Pennon Group plc from GBX 930 ($12.01) to GBX 920 ($11.88) and set an equal weight rating on the stock in a report on Tuesday, July 18th. Royal Bank Of Canada reiterated an outperform rating and issued a GBX 950 ($12.27) target price on shares of Pennon Group plc in a report on Monday, July 31st. Finally, Macquarie reiterated an outperform rating and issued a GBX 920 ($11.88) target price on shares of Pennon Group plc in a report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Pennon Group plc presently has an average rating of Hold and a consensus target price of GBX 881.15 ($11.38).
Shares of Pennon Group plc (PNN) opened at 817.00 on Wednesday. Pennon Group plc has a 52-week low of GBX 761.00 and a 52-week high of GBX 947.23. The firm’s market capitalization is GBX 3.38 billion. The company has a 50 day moving average of GBX 806.20 and a 200 day moving average of GBX 856.40.
In related news, insider Christopher Loughlin sold 11,437 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of GBX 807 ($10.42), for a total value of £92,296.59 ($119,200.04). In the last three months, insiders purchased 54 shares of company stock valued at $45,426.
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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