Pennon Group Price Target Cut to GBX 700 by Analysts at JPMorgan Chase & Co. (PNN)
Research analysts at JPMorgan Chase & Co. decreased their target price on shares of Pennon Group (LON:PNN) from GBX 745 ($12.22) to GBX 700 ($11.48) in a report released on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 6.30% from the company’s current price.
Shares of Pennon Group (LON:PNN) traded down 0.75% on Tuesday, hitting GBX 658.50. The stock had a trading volume of 591,084 shares. Pennon Group has a 52 week low of GBX 621.00 and a 52 week high of GBX 729.00. The stock has a 50-day moving average of GBX 646.0 and a 200-day moving average of GBX 675.0. The company’s market cap is £2.402 billion.
The company also recently announced a dividend, which is scheduled for Thursday, April 3rd. Investors of record on Wednesday, January 29th will be paid a dividend of GBX 9.39 ($0.15) per share. This represents a dividend yield of 1.45%. The ex-dividend date is Wednesday, January 29th.
PNN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Pennon Group in a research note to investors on Friday, December 20th. They now have a GBX 650 ($10.66) price target on the stock. Separately, analysts at BNP Paribas reiterated a “neutral” rating on shares of Pennon Group in a research note to investors on Friday, December 13th. They now have a GBX 720 ($11.81) price target on the stock. Finally, analysts at Barclays upgraded shares of Pennon Group to an “overweight” rating in a research note to investors on Friday, December 6th. They now have a GBX 730 ($11.97) price target on the stock, up previously from GBX 725 ($11.89). Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 700.54 ($11.49).
Pennon Group Plc and its subsidiaries are engaged in the provision of water and sewerage services, waste management, recycling and renewable energy.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.