Brokerages Set Pennon Group (PNN) Price Target at $838.78

Pennon Group (LON:PNN) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is GBX 838.78 ($11.38).

PNN has been the subject of a number of research analyst reports. JPMorgan Chase reaffirmed an “overweight” rating and set a GBX 830 ($11.26) price objective on shares of Pennon Group in a research report on Friday, March 9th. Goldman Sachs initiated coverage on shares of Pennon Group in a research report on Friday, January 26th. They set a “neutral” rating and a GBX 749 ($10.16) price objective for the company. HSBC reaffirmed a “buy” rating and set a GBX 820 ($11.12) price objective on shares of Pennon Group in a research report on Tuesday, March 27th. Credit Suisse Group reaffirmed an “underperform” rating and set a GBX 690 ($9.36) price objective on shares of Pennon Group in a research report on Friday, March 23rd. Finally, Morgan Stanley lowered their price objective on shares of Pennon Group from GBX 890 ($12.07) to GBX 790 ($10.72) and set an “equal weight” rating for the company in a research report on Tuesday, March 6th.

In other Pennon Group news, insider John Parker purchased 17,027 shares of the firm’s stock in a transaction on Tuesday, March 27th. The stock was bought at an average price of GBX 587 ($7.96) per share, with a total value of £99,948.49 ($135,578.53). Insiders acquired a total of 17,095 shares of company stock valued at $10,037,285 in the last three months.

LON:PNN opened at GBX 709.40 ($9.62) on Friday. Pennon Group has a fifty-two week low of GBX 600.23 ($8.14) and a fifty-two week high of GBX 947.23 ($12.85).

Pennon Group Company Profile

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.

Analyst Recommendations for Pennon Group (LON:PNN)

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