Jefferies Raises Pennon Rating to Buy

By EC Assets · Published 14 October 2026

Jefferies upgraded Pennon to a "buy" rating. The firm stated that low expectations for the company provide room to beat. Jefferies also upgraded Parsons Corp. to Buy from Hold. This upgrade followed a challenging second quarter for Parsons. The company experienced contract write-downs, lowered guidance, and execution missteps in that period. These events reset investor expectations for Parsons. Morgan Stanley's equities trading revenue exceeded expectations by $909 million. ASML also reported strong performance. ASML stated it is receiving order interest through 2030. The company's profit smashed expectations. This article is intended for informational purposes only. It does not constitute investment advice.