I know that the mode for these threads tends to be smaller cap stocks but Pennon is looking so good at present I was interested to see if anyone else out there is holding or thinking of buying. The SP is on a fantastic run, it pays a nice fat dividend and even if the water regulators decision on prices was not what any of the water companies were looking for, Pennon is probably the least affected and the most favoured by analysts. Seems to me to be a winning combination!

Deutsche Bank today downgrades its investment rating on Pennon Group PLC (LON:PNN) to hold (from buy) and raised its price target to 790p (from 780p).

I'm surprised it's not falling given IRV news.