According to an update released by analysts at Investec Securities the broker has now set a ‘Buy’ rating on shares of Pennon Group (LON:PNN) with a price target of 920.
Investec Securities on Wednesday reiterated Pennon Group’s analyst rating as ‘Buy’ with its price target of 920 highlighting a potential increase of 9% from Pennon Group’s current price of 844.
Over the last twelve months Pennon Group’s stock price has increased from 794.59 to 844, a change of 6.22%.
Pennon Group has 412,031,000 shares in issue which have a share price of 844 giving Pennon Group a market capitalisation of 3.48B GBp.
The company has a 50 day moving average of 874.55 and a 200 day moving average of 860.34. The 52 week high shares of Pennon Group have reached is 958 whilst the 52 week low for the company’s shares is 762.5.
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. The waste management business is the waste recycling and recovery services provided by Viridor Limited. South West Water Limited is engaged in providing water and wastewater services for Devon, Cornwall and parts of Dorset and Somerset. Bournemouth Water Limited is engaged in providing the water services for parts of Dorset, Hampshire and Wiltshire. Viridor Limited is a recycling, energy recovery and waste management company, providing services to over 150 local authorities and corporate clients, as well as over 32,000 customers across the United Kingdom.