Berenberg Bank Lowers SSE plc (SSE) Price Target to GBX 1,600

SSE plc (LON:SSE) had its price target lowered by analysts at Berenberg Bank from GBX 1,650 ($21.70) to GBX 1,600 ($21.04) in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price suggests a potential upside of 19.05% from the stock’s current price.

SSE has been the topic of a number of other reports. Credit Suisse Group restated an “outperform” rating and issued a GBX 1,500 ($19.73) price target on shares of SSE plc in a research note on Thursday, November 2nd. Jefferies Group LLC upgraded SSE plc to a “buy” rating and lifted their price target for the company from GBX 1,400 ($18.41) to GBX 1,700 ($22.36) in a research note on Tuesday. Morgan Stanley decreased their price target on SSE plc from GBX 1,725 ($22.69) to GBX 1,700 ($22.36) and set an “overweight” rating on the stock in a research note on Monday, August 7th. Deutsche Bank AG restated a “sell” rating and issued a GBX 1,300 ($17.10) price target on shares of SSE plc in a research note on Friday, August 25th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a GBX 1,540 ($20.26) price target on shares of SSE plc in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of GBX 1,549.29 ($20.38).

SSE plc (SSE) opened at GBX 1,344 ($17.68) on Thursday. SSE plc has a 12 month low of GBX 1,326 ($17.44) and a 12 month high of GBX 1,578 ($20.75).

SSE plc (LON:SSE) last announced its earnings results on Wednesday, November 8th. The company reported GBX 31.20 ($0.41) earnings per share for the quarter, beating the consensus estimate of GBX 30.30 ($0.40) by GBX 0.90 ($0.01). SSE plc had a return on equity of 40.09% and a net margin of 6.57%. The company had revenue of GBX 1,218.41 billion for the quarter.

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About SSE plc

SSE plc is engaged in producing, distributing and supplying electricity and gas, as well as other energy-related services to homes and businesses in Great Britain and Ireland. The Company’s segments include Networks, which consists of electricity distribution, electricity transmission and gas distribution; Retail, which consists of energy supply, enterprise and energy-related services, and Wholesale, which consists of energy portfolio management and electricity generation, gas storage and gas production.

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