Pennon Group (LON:PNN) Price Target Raised to GBX 974

Pennon Group (LON:PNN) had its target price boosted by equities research analysts at Goldman Sachs Group from GBX 934 ($12.20) to GBX 974 ($12.73) in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. Goldman Sachs Group’s price target would suggest a potential upside of 5.94% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Deutsche Bank raised shares of Pennon Group to a “buy” rating and upped their price objective for the company from GBX 780 ($10.19) to GBX 880 ($11.50) in a research note on Monday, September 30th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Pennon Group in a research note on Friday, September 13th. Royal Bank of Canada raised Pennon Group to an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group restated a “hold” rating and set a GBX 740 ($9.67) price target (down previously from GBX 770 ($10.06)) on shares of Pennon Group in a report on Thursday, September 19th. Finally, Barclays reaffirmed an “overweight” rating on shares of Pennon Group in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Pennon Group presently has an average rating of “Hold” and a consensus price target of GBX 861.40 ($11.26).

Shares of PNN opened at GBX 919.40 ($12.01) on Wednesday. The stock has a market capitalization of $3.92 billion and a P/E ratio of 16.60. Pennon Group has a twelve month low of GBX 681 ($8.90) and a twelve month high of GBX 959 ($12.53). The company has a quick ratio of 1.78, a current ratio of 2.31 and a debt-to-equity ratio of 240.10. The firm has a fifty day simple moving average of GBX 907.18 and a two-hundred day simple moving average of GBX 789.89.

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.

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