Pennon Group (LON:PNN) Receives “Overweight” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their overweight rating on shares of Pennon Group (LON:PNN) in a report released on Friday, March 9th. JPMorgan Chase & Co. currently has a GBX 830 ($11.47) target price on the stock.

PNN has been the topic of several other research reports. Deutsche Bank lowered shares of Pennon Group to a hold rating and lowered their price objective for the stock from GBX 870 ($12.02) to GBX 840 ($11.61) in a research report on Wednesday, December 6th. Morgan Stanley lowered their price objective on shares of Pennon Group from GBX 890 ($12.30) to GBX 790 ($10.91) and set an equal weight rating on the stock in a research report on Tuesday, March 6th. Barclays reaffirmed an underweight rating on shares of Pennon Group in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group assumed coverage on shares of Pennon Group in a research report on Friday, January 26th. They issued a neutral rating and a GBX 749 ($10.35) price target on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Pennon Group has a consensus rating of Hold and an average price target of GBX 839.90 ($11.60).

Pennon Group (LON PNN) opened at GBX 608.86 ($8.41) on Friday. The firm has a market cap of $2,600.00 and a PE ratio of 1,383.77. Pennon Group has a 12-month low of GBX 600.23 ($8.29) and a 12-month high of GBX 947.23 ($13.09).

In related news, insider Helen Barrett-Hague sold 263 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of GBX 765 ($10.57), for a total transaction of £2,011.95 ($2,779.70). In the last ninety days, insiders have purchased 64 shares of company stock valued at $45,234.

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Pennon Group 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.

Analyst Recommendations for Pennon Group (LON:PNN)

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