Pennon Group plc 53.7% potential upside indicated by JP Morgan Cazenove

Pennon Group plc with ticker (LON:PNN) now has a potential upside of 53.7% according to JP Morgan Cazenove.



JP Morganset a target price of 1,200 GBX for the company, which when compared to the Pennon Group plc share price of 781 GBX at opening today (31/05/2023) indicates a potential upside of 53.7%. Trading has ranged between 735 (52 week low) and 1,076 (52 week high) with an average of 597,534 shares exchanging hands daily. The market capitalisation at the time of writing is £2,031,683,695.

Pennon Group plc is focused on the provision of essential utility services and environmental infrastructure. The Company’s business is operated through three principal subsidiaries: South West Water Limited, Bristol Water Group and Pennon Water Services Limited. Its core business includes water and wastewater, and water retail services. Its segments include water and non-household retail. The water segment comprises the regulated water and wastewater services undertaken by Southwest Water and the regulated water services undertaken by Bristol Water. The non-household retail business reflects the services provided by Pennon Water Services. It provides water and wastewater services in Devon, Cornwall and parts of Dorset and Somerset and water only services in parts of Dorset, Hampshire, Wiltshire, Bristol City, North Somerset and areas of Bath, Northeast Somerset and South Gloucestershire. It provides water retail services to non-household customer accounts across Great Britain.