Pennon Group (PNN) Receives “Equal Weight” Rating from Morgan Stanley
Morgan Stanley reiterated their equal weight rating on shares of Pennon Group (LON:PNN) in a research report sent to investors on Monday. The brokerage currently has a GBX 790 ($10.29) price objective on the stock.
A number of other research analysts have also recently commented on the company. Royal Bank of Canada reissued an outperform rating and issued a GBX 925 ($12.05) target price on shares of Pennon Group in a research note on Monday, September 3rd. HSBC reduced their target price on Pennon Group from GBX 890 ($11.59) to GBX 860 ($11.20) and set a buy rating on the stock in a research note on Tuesday, August 28th. UBS Group increased their target price on Pennon Group from GBX 752 ($9.80) to GBX 820 ($10.68) and gave the company a buy rating in a research note on Thursday, August 9th. Finally, Deutsche Bank reissued a buy rating on shares of Pennon Group in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Pennon Group has an average rating of Hold and an average target price of GBX 813 ($10.59).
PNN opened at GBX 725.60 ($9.45) on Monday. Pennon Group has a 52 week low of GBX 600.23 ($7.82) and a 52 week high of GBX 947.23 ($12.34).
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.
Further Reading: Diversification Important in Investing
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