Pennon Group (PNN) Coverage Initiated at Goldman Sachs Group

Analysts at Goldman Sachs Group assumed coverage on shares of Pennon Group (LON:PNN) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating and a GBX 749 ($10.16) price target on the stock. Goldman Sachs Group’s price objective would suggest a potential upside of 3.00% from the company’s previous close.

PNN has been the topic of several other reports. JPMorgan Chase & Co. restated a “neutral” rating and set a GBX 860 ($11.66) price target on shares of Pennon Group in a report on Thursday, November 30th. Deutsche Bank cut shares of Pennon Group to a “hold” rating and lowered their price target for the company from GBX 870 ($11.80) to GBX 840 ($11.39) in a report on Wednesday, December 6th. Credit Suisse Group restated an “underperform” rating and set a GBX 710 ($9.63) price target on shares of Pennon Group in a report on Thursday, November 2nd. Finally, Barclays reaffirmed an “underweight” rating on shares of Pennon Group in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of GBX 852.90 ($11.57).

Pennon Group (PNN) traded up GBX 0.20 ($0.00) during trading on Friday, hitting GBX 727.20 ($9.86). 2,526,455 shares of the stock traded hands, compared to its average volume of 1,280,000. Pennon Group has a fifty-two week low of GBX 720.40 ($9.77) and a fifty-two week high of GBX 947.23 ($12.85). The stock has a market cap of $3,050.00 and a PE ratio of 1,652.73.

In related news, insider Helen Barrett-Hague sold 263 shares of Pennon Group stock in a transaction on Thursday, January 4th. The shares were sold at an average price of GBX 765 ($10.37), for a total value of £2,011.95 ($2,728.44). In the last ninety days, insiders purchased 58 shares of company stock valued at $44,629.

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Pennon Group 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.

Analyst Recommendations for Pennon Group (LON:PNN)

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