Barclays Lowers Pennon Group (OTCMKTS:PEGRY) Price Target to GBX 1,200

Pennon Group (OTCMKTS:PEGRY – Get Rating) had its price objective cut by investment analysts at Barclays from GBX 1,300 ($15.84) to GBX 1,200 ($14.63) in a research report issued to clients and investors on Thursday, The Fly reports.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Pennon Group from a “sell” rating to a “hold” rating in a report on Friday, March 3rd. Societe Generale dropped their price objective on Pennon Group from GBX 1,070 ($13.04) to GBX 1,040 ($12.68) in a report on Tuesday, January 17th. JPMorgan Chase & Co. dropped their price objective on Pennon Group from GBX 1,070 ($13.04) to GBX 1,050 ($12.80) in a report on Tuesday, December 6th. Finally, Royal Bank of Canada cut Pennon Group from an “outperform” rating to a “sector perform” rating in a report on Monday, February 13th.

Pennon Group Price Performance

Shares of PEGRY opened at $21.30 on Thursday. The stock’s 50-day simple moving average is $21.99 and its 200 day simple moving average is $21.36. Pennon Group has a 52-week low of $16.79 and a 52-week high of $29.07.

Pennon Group Company Profile

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Pennon Group Plc engages in the provision of water management and sewerage services. It operates through the following segments: Water, Waste Management, Non-Household Retail, and Others. The Water segment comprises of the regulated water and wastewater services undertaken by South West Water. The Waste Management segment involves in the recycling, energy recovery and waste management services provided by Viridor.