SSE’s (SSE) “Sell” Rating Reaffirmed at Deutsche Bank
Several other brokerages have also issued reports on SSE. Deutsche Bank reaffirmed a sell rating on shares of SSE in a research report on Friday, May 18th. Berenberg Bank cut their price objective on SSE from GBX 1,600 ($20.64) to GBX 1,470 ($18.96) and set a buy rating for the company in a research note on Wednesday, July 18th. Jefferies Financial Group began coverage on SSE in a research note on Tuesday, June 12th. They set a buy rating and a GBX 1,500 ($19.35) price objective for the company. JPMorgan Chase & Co. reiterated a neutral rating and set a GBX 1,350 ($17.41) price objective on shares of SSE in a research note on Wednesday, June 27th. Finally, Royal Bank of Canada lowered SSE to a sector performer rating and cut their price objective for the stock from GBX 1,550 ($19.99) to GBX 1,350 ($17.41) in a research note on Wednesday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. SSE has a consensus rating of Hold and a consensus price target of GBX 1,437.91 ($18.55).
LON:SSE traded down GBX 16 ($0.21) during trading hours on Friday, hitting GBX 1,252.50 ($16.16). 3,535,338 shares of the company traded hands, compared to its average volume of 4,270,000. SSE has a one year low of GBX 1,176.50 ($15.18) and a one year high of GBX 1,554 ($20.05).
SSE plc engages in the generation, transmission, distribution, and supply of electricity. The company operates through three segments: Wholesale, Networks, and Retail. It generates electricity from gas, oil, coal, water, and wind. The company transmits and distributes electricity to approximately 3.7 million homes and businesses across the north of the central belt of Scotland and also central southern England; owns and maintains 132 kilovolts (KV), 275kV, and 400kV electricity transmission network; and manages 130,000 kilometers of overhead lines and underground cables, 106,000 substations, and approximately 100 subsea cables.
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