JPMorgan Chase & Co. Issues Positive Forecast for Pennon Group (LON:PNN) Stock Price

Key Points

• JPMorgan Chase raised its target price for Pennon from GBX 565 to GBX 615 and maintained a "neutral" rating, implying about a 10.51% upside from the current share price.
• Other brokers including Deutsche Bank and Citi also lifted targets, leaving a MarketBeat consensus of "Moderate Buy" with an average price target of GBX 630.25.
• Pennon is trading near GBX 556.50 (down ~2%), with a market cap of £2.63bn, a high P/E of 115.94 and a very high debt-to-equity ratio (357.72), underscoring valuation and leverage risks.

Pennon Group (LON:PNN - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from GBX 565 to GBX 615 in a research report issued to clients and investors on Monday,Digital Look reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 10.51% from the company's current price.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Pennon Group from GBX 580 to GBX 600 and gave the stock a "buy" rating in a research note on Monday, January 19th. Citigroup lifted their price target on shares of Pennon Group from GBX 628 to GBX 636 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Pennon Group currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 630.25.

Pennon Group Trading Down 2.0%

PNN opened at GBX 556.50 on Monday. The company has a debt-to-equity ratio of 357.72, a current ratio of 1.62 and a quick ratio of 1.54. The company's 50 day simple moving average is GBX 556.70 and its two-hundred day simple moving average is GBX 532.56. Pennon Group has a 1-year low of GBX 439.40 and a 1-year high of GBX 605. The firm has a market capitalization of £2.63 billion, a price-to-earnings ratio of 115.94, a price-to-earnings-growth ratio of 8.20 and a beta of 0.56.

Pennon Group Company Profile

At the top end of the FTSE 250, Pennon is an infrastructure group, focused on the UK water market is one of only three listed water companies in the UK. Operating in a stable regulatory environment with a positive outlook, we are focused on long-term sustainable growth, through disciplined capital allocation, organic and acquisitive. Our 25-year rolling licence provides predictable index-linked growth and visibility over future revenues. We provide clean and wastewater services through our businesses across the Great South West.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.