Pennon's Investment Needs Limit Share Upside -- Market Talk

Dow Jones
2024/10/09

0853 GMT - Pennon's new investment requirements will likely dampen the shares' upside potential in the near term, RBC Capital Markets analysts write in a research note. The U.K. water company will need to adjust its balance sheet in order to finance future growth as it looks to deliver on its business plan, RBC says. The Canadian bank lowers its share rating on Pennon to sector perform from outperform and its price target to 675 pence from 725 pence. Shares are down 0.3% at 557.50 pence. (christian.moess@wsj.com)

 

(END) Dow Jones Newswires

October 09, 2024 04:53 ET (08:53 GMT)

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