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Home / Support and Resistance / Pennon (PNN.L) 23-03-20

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Pennon (PNN.L) 23-03-20

Are Pennon (PNN.L) about to break below the 967p support zone, or recover again to 1202p highs? (+24%)

 

  • The share price is close to 967p support. Shares are 965.4p (at time of writing).
  • The support has proven robust to date. Will it stand firm this time?
  • The shares have touched this level numerous times.
  • Check our website and news outlets for updates. Fundamental developments can affect the strength of support levels.
  • Shares -19% from 12-month highs; +38% from 12 month lows.

Latest News

19 Mar:  Deutsche Bank reiterates its buy rating on Pennon Group (PNN) and increased the target price to 1200p (from 1050p).

13 Mar:  Deutsche Bank reiterates its buy rating on Pennon Group (PNN) and reduced the target price to 1050p (from 1170p).

25 Feb:  Goldman Sachs reiterates its buy rating on Pennon Group (PNN) and increased the target price to 1185p (from 1119p).

18 Feb:  JP Morgan Cazenove reiterates its neutral rating on Pennon Group (PNN) and increased the target price to 1125p (from 760p).

14 Feb:  Pennon, the water utility group, announced it had accepted a ruling from British regulators for its South West Water business that incorporates an expenses allowance of approximately £2bn.

11 Feb:  Jefferies International reiterates its hold rating on Pennon Group (PNN) and increased the target price to 1090p (from 740p).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

Click to enlarge

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