Published On: Sat, Sep 17th, 2016

Deutsche Bank AG Cuts Pennon Group plc (PNN) Price Target to GBX 900

Pennon Group plc (LON:PNN) had its price objective reduced by stock analysts at Deutsche Bank AG from GBX 1,000 ($13.32) to GBX 900 ($11.99) in a report released on Tuesday, StockTargetPrices.com reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential upside of 2.80% from the stock’s current price.
Several other equities analysts have also recently issued reports on PNN. JPMorgan Chase & Co. lifted their price target on Pennon Group plc from GBX 800 ($10.66) to GBX 850 ($11.32) and gave the company a “neutral” rating in a research report on Thursday, May 26th. BNP Paribas reiterated an “outperform” rating and set a GBX 950 ($12.65) price target on shares of Pennon Group plc in a research report on Thursday, May 26th. HSBC reiterated a “buy” rating and set a GBX 950 ($12.65) price target on shares of Pennon Group plc in a research report on Thursday, May 26th. Finally, Credit Suisse Group AG lifted their price target on Pennon Group plc from GBX 730 ($9.72) to GBX 815 ($10.86) and gave the company an “underperform” rating in a research report on Thursday, July 21st. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of GBX 863.29 ($11.50).
Pennon Group plc (LON:PNN) traded down 0.11% during trading on Tuesday, reaching GBX 875.50. The company had a trading volume of 1,804,119 shares. The firm’s market capitalization is GBX 3.61 billion. Pennon Group plc has a 12 month low of GBX 712.00 and a 12 month high of GBX 958.00. The stock has a 50 day moving average price of GBX 887.65 and a 200 day moving average price of GBX 849.91.

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In other news, insider HAGUE,H P. BARRETT acquired 1,783 shares of Pennon Group plc stock in a transaction that occurred on Tuesday, June 21st. The stock was purchased at an average price of GBX 832 ($11.08) per share, with a total value of £14,834.56 ($19,758.34). Also, insider Loughlin,Christopher sold 24,625 shares of Pennon Group plc stock in a transaction on Thursday, July 28th. The shares were sold at an average price of GBX 911 ($12.13), for a total value of £224,333.75 ($298,792.95).
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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