Pennon Group (LON:PNN) Downgraded by Goldman Sachs Group

Goldman Sachs Group downgraded shares of Pennon Group (LON:PNN) to a neutral rating in a research note issued to investors on Tuesday morning, Stock Target Advisor reports. They currently have GBX 1,182 ($15.55) target price on the stock, down from their prior target price of GBX 1,185 ($15.59).

A number of other analysts have also issued reports on the stock. Deutsche Bank boosted their target price on shares of Pennon Group from GBX 1,050 ($13.81) to GBX 1,200 ($15.79) and gave the company a buy rating in a research note on Thursday, March 19th. Royal Bank of Canada boosted their target price on shares of Pennon Group from GBX 875 ($11.51) to GBX 1,200 ($15.79) and gave the company an outperform rating in a research note on Friday, January 17th. Credit Suisse Group reissued an underperform rating on shares of Pennon Group in a research note on Monday, January 20th. Investec lowered shares of Pennon Group to a hold rating and upped their price objective for the stock from GBX 890 ($11.71) to GBX 1,000 ($13.15) in a research note on Thursday, December 19th. Finally, HSBC upped their price objective on shares of Pennon Group from GBX 1,250 ($16.44) to GBX 1,300 ($17.10) and gave the stock a buy rating in a research note on Friday, March 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of GBX 1,071.70 ($14.10).

Shares of PNN opened at GBX 1,046.50 ($13.77) on Tuesday. The firm has a market capitalization of $4.41 billion and a P/E ratio of 18.89. Pennon Group has a 12-month low of GBX 693.40 ($9.12) and a 12-month high of GBX 1,210.50 ($15.92). The company has a current ratio of 2.31, a quick ratio of 1.78 and a debt-to-equity ratio of 240.10. The firm has a fifty day moving average price of GBX 1,105.91 and a 200-day moving average price of GBX 977.06.

Pennon Group Company Profile

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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Analyst Recommendations for Pennon Group (LON:PNN)

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