Pennon Group (PNN) Earns “Underperform” Rating from Credit Suisse Group

Credit Suisse Group reaffirmed their underperform rating on shares of Pennon Group (LON:PNN) in a report released on Friday morning. Credit Suisse Group currently has a GBX 690 ($9.53) target price on the stock.

Several other research firms also recently commented on PNN. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a GBX 830 ($11.47) price objective on shares of Pennon Group in a research note on Friday, March 9th. Goldman Sachs initiated coverage on Pennon Group in a research note on Friday, January 26th. They issued a neutral rating and a GBX 749 ($10.35) price objective on the stock. Deutsche Bank reaffirmed a hold rating and issued a GBX 840 ($11.61) price objective on shares of Pennon Group in a research note on Thursday, December 14th. Finally, Morgan Stanley decreased their price objective on Pennon Group from GBX 890 ($12.30) to GBX 790 ($10.91) and set an equal weight rating on the stock in a research note on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of GBX 837.90 ($11.58).

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Pennon Group (LON:PNN) opened at GBX 584.60 ($8.08) on Friday. Pennon Group has a 12 month low of GBX 600.23 ($8.29) and a 12 month high of GBX 947.23 ($13.09). The company has a market capitalization of $2,540.00 and a PE ratio of 1,328.64.

In related news, insider Helen Barrett-Hague sold 263 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of GBX 765 ($10.57), for a total transaction of £2,011.95 ($2,779.70). Insiders have purchased 66 shares of company stock valued at $42,784 in the last quarter.

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About Pennon Group

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 (LON:PNN)

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