Pennon Group plc (PNN) Receives GBX 806.25 Average Price Target from Brokerages

Pennon Group plc (LON:PNN) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is GBX 806.25 ($10.54).

PNN has been the subject of several research reports. Deutsche Bank restated a “buy” rating on shares of Pennon Group in a research report on Friday, July 27th. UBS Group raised their price objective on shares of Pennon Group from GBX 752 ($9.83) to GBX 820 ($10.71) and gave the company a “buy” rating in a research report on Thursday, August 9th. HSBC reduced their price objective on shares of Pennon Group from GBX 890 ($11.63) to GBX 860 ($11.24) and set a “buy” rating for the company in a research report on Tuesday, August 28th. Royal Bank of Canada restated an “outperform” rating and set a GBX 925 ($12.09) price objective on shares of Pennon Group in a research report on Monday, September 3rd. Finally, Morgan Stanley restated an “equal weight” rating and set a GBX 790 ($10.32) price objective on shares of Pennon Group in a research report on Monday, September 10th.

Shares of LON:PNN traded down GBX 2.20 ($0.03) during trading hours on Friday, hitting GBX 753.40 ($9.84). 287,844 shares of the company’s stock traded hands, compared to its average volume of 1,760,000. Pennon Group has a 52 week low of GBX 600.23 ($7.84) and a 52 week high of GBX 947.23 ($12.38).

About Pennon Group

Pennon Group Plc engages in the environmental infrastructure businesses worldwide. The company operates through Water, and Waste Management segments. The Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset serving 1.7 million customers; and water services in the areas of Dorset, Hampshire, and Wiltshire serving approximately 0.5 million customers.

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Analyst Recommendations for Pennon Group (LON:PNN)

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