Pennon Group (PNN) Rating Reiterated by J P Morgan Chase & Co
Pennon Group (LON:PNN)‘s stock had its “neutral” rating restated by research analysts at J P Morgan Chase & Co in a research note issued to investors on Thursday. They presently have a GBX 860 ($11.52) price target on the stock. J P Morgan Chase & Co’s price target points to a potential upside of 8.36% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. Barclays reiterated an “underweight” rating on shares of Pennon Group in a report on Tuesday, November 14th. Deutsche Bank reiterated a “buy” rating and issued a GBX 870 ($11.65) price target on shares of Pennon Group in a report on Tuesday, November 7th. Credit Suisse Group reiterated an “underperform” rating and issued a GBX 710 ($9.51) price target on shares of Pennon Group in a report on Thursday, November 2nd. Beaufort Securities reiterated a “buy” rating on shares of Pennon Group in a report on Tuesday, September 26th. Finally, reiterated a “buy” rating and issued a GBX 960 ($12.86) price target on shares of Pennon Group in a report on Wednesday, September 13th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Pennon Group currently has a consensus rating of “Hold” and an average price target of GBX 867 ($11.61).
Shares of Pennon Group (LON PNN) traded down GBX 0.82 ($0.01) during trading hours on Thursday, hitting GBX 793.68 ($10.63). The stock had a trading volume of 1,480,000 shares, compared to its average volume of 1,130,000. Pennon Group has a twelve month low of GBX 763 ($10.22) and a twelve month high of GBX 947.23 ($12.69).
In related news, insider Christopher Loughlin sold 19,552 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of GBX 792 ($10.61), for a total transaction of £154,851.84 ($207,381.60). Over the last 90 days, insiders have purchased 57 shares of company stock worth $45,030.
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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.
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