SSE (LON:SSE) was downgraded by equities research analysts at Deutsche Bank to a “hold” rating in a report released on Monday. They currently have a GBX 1,180 ($15.42) price target on the stock, down from their prior price target of GBX 1,250 ($16.33). Deutsche Bank’s price objective indicates a potential upside of 8.36% from the company’s previous close.
Several other research firms have also recently commented on SSE. JPMorgan Chase & Co. decreased their target price on SSE from GBX 1,450 ($18.95) to GBX 1,230 ($16.07) and set a “neutral” rating for the company in a research note on Wednesday, November 14th. Royal Bank of Canada set a GBX 1,350 ($17.64) target price on SSE and gave the stock a “neutral” rating in a research note on Wednesday, September 12th. Citigroup reaffirmed a “neutral” rating and set a GBX 1,203 ($15.72) target price on shares of SSE in a research note on Thursday, September 13th. UBS Group reaffirmed a “buy” rating on shares of SSE in a research note on Monday, November 19th. Finally, HSBC cut SSE to a “hold” rating and decreased their target price for the stock from GBX 1,400 ($18.29) to GBX 1,300 ($16.99) in a research note on Friday, September 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. SSE currently has a consensus rating of “Hold” and a consensus price target of GBX 1,341.63 ($17.53).
LON SSE opened at GBX 1,089 ($14.23) on Monday. SSE has a one year low of GBX 1,176.50 ($15.37) and a one year high of GBX 1,554 ($20.31).
In other news, insider Peter Lynas acquired 3,000 shares of SSE stock in a transaction on Monday, November 19th. The stock was purchased at an average price of GBX 1,117 ($14.60) per share, with a total value of £33,510 ($43,786.75).
SSE Company Profile
SSE plc engages in the generation, transmission, distribution, and supply of electricity. The company operates through three segments: Wholesale, Networks, and Retail. It generates electricity from gas, oil, coal, water, and wind. The company transmits and distributes electricity to approximately 3.7 million homes and businesses across the north of the central belt of Scotland and also central southern England; owns and maintains 132 kilovolts (KV), 275kV, and 400kV electricity transmission network; and manages 130,000 kilometers of overhead lines and underground cables, 106,000 substations, and approximately 100 subsea cables.
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