Pennon Group (LON:PNN) had its target price upped by Goldman Sachs Group from GBX 934 ($12.20) to GBX 974 ($12.73) in a note issued to investors on Wednesday, ThisIsMoney.Co.Uk reports. The brokerage presently has a “buy” rating on the stock. Goldman Sachs Group’s price target points to a potential upside of 5.59% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada raised Pennon Group to an “outperform” rating in a report on Monday, September 30th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Pennon Group in a report on Friday, September 13th. HSBC boosted their price objective on Pennon Group from GBX 950 ($12.41) to GBX 980 ($12.81) and gave the company a “buy” rating in a research report on Wednesday, November 27th. Barclays restated an “overweight” rating on shares of Pennon Group in a research note on Thursday, November 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 740 ($9.67) target price (down from GBX 770 ($10.06)) on shares of Pennon Group in a research report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 873.78 ($11.42).
Shares of PNN opened at GBX 922.40 ($12.05) on Wednesday. Pennon Group has a 12-month low of GBX 681 ($8.90) and a 12-month high of GBX 938.60 ($12.26). The company has a quick ratio of 1.33, a current ratio of 2.14 and a debt-to-equity ratio of 218.48. The firm has a market capitalization of $3.89 billion and a price-to-earnings ratio of 18.12. The stock’s 50-day moving average price is GBX 904.53 and its 200 day moving average price is GBX 787.89.
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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