HSBC Holdings plc Reiterates Buy Rating for Pennon Group plc (PNN)
Pennon Group plc (LON:PNN)‘s stock had its “buy” rating reaffirmed by investment analysts at HSBC Holdings plc in a research report issued to clients and investors on Friday. They presently have a GBX 960 ($12.54) target price on the stock. HSBC Holdings plc’s price target would indicate a potential upside of 16.50% from the company’s previous close.
PNN has been the topic of a number of other reports. Deutsche Bank AG restated a “buy” rating and issued a GBX 980 ($12.80) target price on shares of Pennon Group plc in a research note on Friday, June 23rd. Credit Suisse Group AG dropped their target price on shares of Pennon Group plc from GBX 750 ($9.79) to GBX 710 ($9.27) and set an “underperform” rating on the stock in a research note on Friday, June 30th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 950 ($12.41) target price on shares of Pennon Group plc in a research note on Thursday, May 4th. Citigroup Inc. restated a “neutral” rating and issued a GBX 840 ($10.97) target price on shares of Pennon Group plc in a research note on Wednesday, May 3rd. Finally, Morgan Stanley dropped their target price on shares of Pennon Group plc from GBX 930 ($12.14) to GBX 920 ($12.01) and set an “equal weight” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of GBX 891.92 ($11.65).
Pennon Group plc (LON PNN) traded down 0.24% during mid-day trading on Friday, reaching GBX 824.00. The company’s stock had a trading volume of 1,014,183 shares. The firm’s 50 day moving average is GBX 859.50 and its 200-day moving average is GBX 856.19. The stock’s market cap is GBX 3.41 billion. Pennon Group plc has a one year low of GBX 761.00 and a one year high of GBX 947.23.
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Pennon Group plc Company Profile
Pennon Group Plc is an environmental infrastructure company. The Company operates through subsidiaries, which include South West Water Limited, Bournemouth Water Limited and Viridor Limited. The Company’s segments include Water and Waste management. Its water business comprises the regulated water and wastewater services undertaken by South West Water Limited and the regulated water services undertaken by Bournemouth Water Limited.
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