Pennon Group Given Hold Rating at Deutsche Bank (PNN)
Pennon Group (LON:PNN)‘s stock had its “hold” rating reaffirmed by analysts at Deutsche Bank in a research report issued to clients and investors on Tuesday, American Banking News.com reports. They currently have a GBX 650 ($10.67) price objective on the stock. Deutsche Bank’s price target suggests a potential downside of 5.18% from the stock’s previous close.
Pennon Group (LON:PNN) traded up 0.15% during mid-day trading on Tuesday, hitting GBX 685.50. 828,729 shares of the company’s stock traded hands. Pennon Group has a one year low of GBX 621.00 and a one year high of GBX 729.163. The stock’s 50-day moving average is GBX 655.8 and its 200-day moving average is GBX 676.. The company’s market cap is £2.501 billion.
A number of other firms have also recently commented on PNN. Analysts at Morgan Stanley raised their price target on shares of Pennon Group from GBX 685 ($11.24) to GBX 723 ($11.87) in a research note to investors on Thursday, January 16th. They now have an “equal weight” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Pennon Group in a research note to investors on Wednesday, January 15th. They now have a GBX 730 ($11.98) price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Pennon Group in a research note to investors on Tuesday, January 14th. They now have a GBX 780 ($12.80) price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of GBX 700.15 ($11.49).
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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