Pennon Group Rating Reiterated by Bank of America Corp. (PNN)
Pennon Group (LON:PNN)‘s stock had its “underperform” rating reiterated by equities researchers at Bank of America Corp. in a research report issued on Thursday, AR Network reports. They currently have a GBX 630 ($10.09) target price on the stock. Bank of America Corp.’s target price indicates a potential downside of 10.19% from the stock’s previous close.
Pennon Group (LON:PNN) remained flat at GBX 701.50 during trading on Thursday. 737,293 shares of the company’s stock traded hands. Pennon Group has a 1-year low of GBX 589.00 and a 1-year high of GBX 749.50. The stock has a 50-day moving average of GBX 695.6 and a 200-day moving average of GBX 674.1. The company’s market cap is £2.555 billion.
PNN has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Pennon Group (LON:PNN) in a research note to investors on Monday, September 16th. They now have a GBX 745 ($11.93) price target on the stock. Separately, analysts at Credit Suisse downgraded shares of Pennon Group (LON:PNN) to an “underperform” rating in a research note to investors on Friday, September 13th. They now have a GBX 610 ($9.77) price target on the stock, down previously from GBX 670 ($10.73). Finally, analysts at Goldman Sachs Group Inc. cut their price target on shares of Pennon Group (LON:PNN) from GBX 723 ($11.58) to GBX 721 ($11.55) in a research note to investors on Tuesday, September 10th. They now have a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 699.01 ($11.20).
Pennon Group Plc and its subsidiaries are engaged in the provision of water and sewerage services, waste management, recycling and renewable energy.
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