SOME OF the
Three of the country's publicly listed suppliers enjoyed a robust trading session yesterday, with Pennon (up 3.18 per cent),
share on the
This comes as investment analyst Jefferies upgraded its stance for the water sector to 'buy' - praising the business plans of the three companies.
These are the strategies the companies have to submit to regulator Ofwat to outline its spending over the next five years, and how it hopes to raise revenues to meet turnaround plans to fix leaking pipelines, creaking infrastructure and help towards getting more customers.
Jefferies argues that the plans present an "unprecedented opportunity for multi-year growth" in a note presented ahead of trading this morning.
It argues that
The bullish investor forecast is a rare good news story for the beleaguered industry, with Big Nine suppliers creaking under a £54bn debt mountain; with
(c) 2023 City A.M., source