Pennon Group Plc : Good Business
By Oscar Salza
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 757 | GBX 0 | GBX 745 | -100% |
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expects sales to grow for the fiscal year at 1233.1 M GBP against 1159.2 M GBP for the previous year.
Pennon Group is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. In the present configuration, the process is very gradual; however, prices have just begun a consolidation phase. It could be interesting for the coming sessions.
The decline observed in the short term offers an interesting entry point for a mid-term investment. Investors will take advantage of the current area to buy Pennon Group . The objective will be set at GBp 796. The stop loss will be triggered below the GBp 754 support.