J P Morgan Chase & Co Lowers Pennon Group (PNN) Price Target to GBX 830
Pennon Group (LON:PNN) had its price objective reduced by J P Morgan Chase & Co from GBX 860 ($11.57) to GBX 830 ($11.17) in a report issued on Thursday. The brokerage currently has a “neutral” rating on the stock. J P Morgan Chase & Co’s target price indicates a potential upside of 7.54% from the stock’s previous close.
PNN has been the subject of several other reports. Deutsche Bank reaffirmed a “buy” rating and issued a GBX 870 ($11.71) price objective on shares of Pennon Group in a report on Tuesday, November 7th. Credit Suisse Group reaffirmed an “underperform” rating and issued a GBX 710 ($9.56) price objective on shares of Pennon Group in a report on Thursday, November 2nd. Barclays reaffirmed an “underweight” rating on shares of Pennon Group in a report on Tuesday, November 14th. Macquarie reaffirmed an “outperform” rating and issued a GBX 920 ($12.38) price objective on shares of Pennon Group in a report on Thursday, August 31st. Finally, reissued a “buy” rating and set a GBX 960 ($12.92) price target on shares of Pennon Group in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of GBX 861 ($11.59).
Pennon Group (LON PNN) opened at GBX 771.78 ($10.39) on Thursday. Pennon Group has a 1-year low of GBX 763 ($10.27) and a 1-year high of GBX 947.23 ($12.75).
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About Pennon Group
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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