Credit Suisse Group Reiterates “Underperform” Rating for Pennon Group plc (PNN)

Credit Suisse Group reiterated their underperform rating on shares of Pennon Group plc (LON:PNN) in a report issued on Thursday, MarketBeat reports. The brokerage currently has a GBX 710 ($9.37) target price on the stock.

Other research analysts also recently issued research reports about the company. HSBC Holdings plc reissued a buy rating and issued a GBX 960 ($12.67) price target on shares of Pennon Group plc in a report on Friday, July 21st. Morgan Stanley reduced their price target on Pennon Group plc from GBX 930 ($12.27) to GBX 920 ($12.14) and set an equal weight rating for the company in a report on Tuesday, July 18th. Deutsche Bank AG reissued a buy rating and issued a GBX 980 ($12.93) price target on shares of Pennon Group plc in a report on Monday, July 24th. Beaufort Securities reissued a buy rating on shares of Pennon Group plc in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada reissued an outperform rating and issued a GBX 950 ($12.54) price target on shares of Pennon Group plc in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of GBX 867 ($11.44).

Pennon Group plc (LON PNN) opened at GBX 814.60 ($10.75) on Thursday. Pennon Group plc has a 1-year low of GBX 761 ($10.04) and a 1-year high of GBX 947.23 ($12.50).

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In other Pennon Group plc news, insider Christopher Loughlin sold 11,437 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of GBX 807 ($10.65), for a total transaction of £92,296.59 ($121,795.45). In the last ninety days, insiders have acquired 57 shares of company stock worth $45,391.

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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