Morgan Stanley Cuts Pennon Group plc (PNN) Price Target to GBX 920

Pennon Group plc (LON:PNN) had its target price dropped by Morgan Stanley from GBX 930 ($12.14) to GBX 920 ($12.01) in a report issued on Tuesday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 13.09% from the company’s current price.

PNN has been the topic of several other reports. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 980 ($12.80) price objective on shares of Pennon Group plc in a research report on Friday, June 23rd. HSBC Holdings plc reiterated a “buy” rating and issued a GBX 940 ($12.27) price objective on shares of Pennon Group plc in a research report on Wednesday, April 26th. Credit Suisse Group dropped their price target on shares of Pennon Group plc from GBX 750 ($9.79) to GBX 710 ($9.27) and set an “underperform” rating on the stock in a research report on Friday, June 30th. Beaufort Securities reiterated a “buy” rating on shares of Pennon Group plc in a report on Thursday, May 25th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 950 ($12.41) target price on shares of Pennon Group plc in a report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Pennon Group plc presently has an average rating of “Hold” and an average target price of GBX 890.38 ($11.63).

Shares of Pennon Group plc (LON:PNN) traded up 0.43% during midday trading on Tuesday, reaching GBX 817.00. 450,300 shares of the company were exchanged. The stock’s 50-day moving average price is GBX 895.10 and its 200-day moving average price is GBX 856.54. Pennon Group plc has a 52-week low of GBX 761.00 and a 52-week high of GBX 947.23. The company’s market capitalization is GBX 3.38 billion.

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About Pennon Group plc

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.

Analyst Recommendations for Pennon Group plc (LON:PNN)

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