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Home / Momentum / Pennon (PNN.L) 17-10-19

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

Pennon (PNN.L) 17-10-19 A trading opportunity for you?

Will shares in Pennon (PNN.L) continue to rally, setting new recent highs?

 

  • Now trading at 907p (at time of writing), the share price performance has been very strong.
  • Will it come to an end, or is this trend your friend?
  • Could this be the ideal opportunity for momentum traders?
  • Whilst momentum has been strong, traders should remember that past performance is not necessarily an indication of the future.
  • Technical traders should be mindful of new events, which can influence price action. Check our website and news outlets for updates.
  • Shares –1% from 12-month highs; +32% from 12 month lows.

Latest News

10 Oct:  Barclays Capital has upgraded its rating on Pennon Group (PNN) up to overweight (from equal weight) and increased the target price to 1000p (from 825p).

30 Sep:  Deutsche Bank has upgraded its rating on Pennon Group (PNN) to buy (from hold) and increased the target price to 880p (from 780p).

30 Sep:  RBC Capital Markets has upgraded its rating on Pennon Group (PNN) to outperform (from sector performer).

 

27 Sep:  The water and waste management firm Pennon stated it would carry out a strategic review of its focus, growth options and approach to capital allocation.

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

 

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