Pennon Group plc (PNN) Stock Rating Reaffirmed by Deutsche Bank AG
Pennon Group plc (LON:PNN)‘s stock had its “buy” rating restated by research analysts at Deutsche Bank AG in a research note issued to investors on Friday. They currently have a GBX 870 ($11.54) price target on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 9.43% from the company’s previous close.
A number of other analysts have also commented on PNN. Morgan Stanley cut their price objective on shares of Pennon Group plc from GBX 930 ($12.34) to GBX 920 ($12.20) and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Credit Suisse Group cut their price objective on shares of Pennon Group plc from GBX 750 ($9.95) to GBX 710 ($9.42) and set an “underperform” rating on the stock in a research report on Friday, June 30th. HSBC Holdings plc reissued a “buy” rating and issued a GBX 960 ($12.73) price objective on shares of Pennon Group plc in a research report on Wednesday, September 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 950 ($12.60) price objective on shares of Pennon Group plc in a research report on Monday, July 31st. Finally, Barclays PLC boosted their price objective on shares of Pennon Group plc from GBX 770 ($10.21) to GBX 810 ($10.74) and gave the stock an “underweight” rating in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 875.45 ($11.61).
Shares of Pennon Group plc (LON:PNN) opened at 795.00 on Friday. The stock’s market cap is GBX 3.29 billion. Pennon Group plc has a 52-week low of GBX 761.00 and a 52-week high of GBX 947.23. The firm has a 50-day moving average of GBX 801.14 and a 200-day moving average of GBX 846.28.
In other Pennon Group plc news, insider Christopher Loughlin sold 19,552 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of GBX 792 ($10.51), for a total transaction of £154,851.84 ($205,401.03). Insiders have acquired 56 shares of company stock worth $45,029 over the last ninety days.
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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