United Utilities - Something in the water?Buy United Utilities (UU.L)
United Utilities Group plc, the United Kingdom's largest listed water company, was founded in 1995 as a result of the merger of North West Water and NORWEB. The group manages the regulated water and wastewater network in North West England, which includes Cumbria, Cheshire, Greater Manchester, Lancashire and Merseyside, which have a combined population of nearly seven million.
Market Cap: £5.8Billion
United Utilities has broken out of a bearish channel with an impulsive move higher. The correction lower in recent days has been limited and buyers appear to be emerging once again. A flag formation may be taking shape which would suggest a continuation higher over the short term. The ultimate target is for a move to 1065p, which is a previous high dating back to May 2017. It’s also a nice one for income investors with a dividend yield of 4.74%.
Stop: 816p
Target 1: 940p
Target 2: 1000p
Target 3: 1065p
Interested in UK Stocks?
Join our free Telegram channel for up to date analysis on the best main market opportunities in the UK right now - t.me
