Barclays Upgrades Pennon Group (LON:PNN) to Overweight

Pennon Group (LON:PNN) was upgraded by research analysts at Barclays to an “overweight” rating in a note issued to investors on Thursday, Digital Look reports. The brokerage currently has a GBX 1,000 ($13.07) price target on the stock, up from their prior price target of GBX 825 ($10.78). Barclays‘s price objective would indicate a potential upside of 15.71% from the stock’s previous close.

A number of other research firms have also recently issued reports on PNN. Macquarie assumed coverage on Pennon Group in a report on Monday, June 17th. They set an “outperform” rating and a GBX 870 ($11.37) target price for the company. Royal Bank of Canada upgraded Pennon Group to an “outperform” rating in a report on Monday, September 30th. Deutsche Bank upgraded Pennon Group to a “buy” rating and increased their target price for the stock from GBX 780 ($10.19) to GBX 880 ($11.50) in a report on Monday, September 30th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 740 ($9.67) target price (down previously from GBX 770 ($10.06)) on shares of Pennon Group in a report on Thursday, September 19th. Finally, HSBC reiterated a “buy” rating on shares of Pennon Group in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of GBX 835.70 ($10.92).

PNN stock opened at GBX 864.20 ($11.29) on Thursday. The stock has a 50-day moving average price of GBX 770.98 and a two-hundred day moving average price of GBX 746.53. The stock has a market cap of $3.64 billion and a PE ratio of 16.98. The company has a current ratio of 2.14, a quick ratio of 1.33 and a debt-to-equity ratio of 218.48. Pennon Group has a 1 year low of GBX 681 ($8.90) and a 1 year high of GBX 839.98 ($10.98).

About Pennon Group

Pennon Group Plc engages in the environmental infrastructure businesses in the United Kingdom, rest of European Union, China, and internationally. The company's Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; and water services in the areas of Dorset, Hampshire, and Wiltshire.

Featured Story: How do analysts define an oversold condition?

Analyst Recommendations for Pennon Group (LON:PNN)

Receive News & Ratings for Pennon Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennon Group and related companies with's FREE daily email newsletter.


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit