Research ratings and price targets

The following table lists current ratings and price targets with respective dates for companies covered by Davy Research. Where a rating or price target has been updated in the previous 12 months, we also show the previous and its date of issue.

We indicate where a rating is currently 'under review', 'suspended' or 'restricted'. An explanation of our ratings is provided below. 

Investment ratings

Davy ratings are indicators of the expected performance of the stock relative to its sector index (FTSE E300) over the next 12 months. At times, the performance might fall outside the general ranges stated below due to near-term events, market conditions, stock volatility or - in some cases - company-specific issues. Research reports and ratings should not be relied upon as individual investment advice. As always, an investor's decision to buy or sell a security must depend on individual circumstances, including existing holdings, time horizons and risk tolerance.

  • Outperform: Outperforms the relevant E300 sector by 10% or more over the next 12 months.
  • Neutral: Performs in-line with the relevant E300 sector (+/-10%) over the next 12 months.
  • Underperform: Underperforms the relevant E300 sector by 10% or more over the next 12 months.
  • Under Review: Rating is actively under review.
  • Suspended: Rating is suspended until further notice.
  • Restricted: Davy is currently unable to provide a rating for this security. This is due to market events, corporate change or other circumstances.

     

The ratings table also indicates if Davy has provided certain material investment banking services to any company under coverage in the past 12 months. The term 'material investment banking services' includes Davy acting as broker as well as the provision of corporate finance services, such as underwriting and managing or advising on a public offer.

The list of individual ratings is updated each Monday, except for public holidays, when it is updated on the following Tuesday.

Also provided is a summary of our ratings for all companies under research coverage, including those companies under coverage to which Davy has provided material investment banking services in the previous 12 months. This summary is updated on a quarterly basis.

Please note that the table of individual stocks below is updated on an ongoing basis, while the quarterly summary table is updated at the end of each quarter.

Please click here for other important disclosures.

If you require further information, please contact researchoperations@davy.ie.

Material Investment Banking Services/Past 12 Months

Rating Count Percent Count (past 12 months) Percent (past 12 months)
Outperform 65 75 25 100
Neutral 21 24 0 0
Underperform 1 1 0 0
Under Review 0 0 0 0
Suspended 0 0 0 0
Restricted 0 0 0 0

Research ratings and price targets

STOCK ANALYST(S) RATINGS* DATE
OF ISSUE
HISTORIC MARKET
PRICE**
PRICE TARGET* DATE
OF ISSUE
AerCap Ross Harvey Outperform 27/06/17 6267USc 7600USc 31/03/21
AIB Group Diarmaid Sheridan/Antonio Duarte Outperform 23/01/19 426c 521c 21/07/23
          463c 20/03/23
Air France KLM Stephen Furlong/Eleanor Walsh Outperform 17/05/23 1190c 2300c 17/05/23
    Neutral 12/01/23   1300c 12/01/23
Associated British Foods Gary Martin/Cathal Kenny Outperform 05/07/11 2068p 2700p 15/11/23
          2500p 13/09/23
Bank of Ireland Diarmaid Sheridan/Antonio Duarte Outperform 11/03/13 929c 1564c 21/07/23
          1334c 20/03/23
Barratt Developments Colin Sheridan  Outperform 25/06/20 441p 753p 05/02/21
Bellway Colin Sheridan  Outperform 24/03/14 2284p 2830p 01/09/23
          2926p 01/09/20
Berkeley Group Colin Sheridan  Underperform 10/09/13 4107p 3995p 24/06/20
Breedon Group Ross Harvey Outperform 22/11/19 329p 600p 27/07/21
Buzzi Unicem Ross Harvey Outperform 04/04/16 2592c 2600c 30/03/21
C&C Cathal Kenny Outperform 30/06/09 139p 300p 20/10/22
Cairn Homes Colin Sheridan Outperform 26/08/15 109c 184c 10/10/23
          174c 14/03/23
Corre Energy Michael Mitchell Outperform 21/10/21 334c 585c 03/08/23
          320c 07/10/22
Cranswick Gary Martin/Cathal Kenny Outperform 09/11/16 3552p 4650p 05/12/23
          4000p 20/07/23
CRH Ross Harvey Outperform 23/05/12 5473USc / 
4542p
7500USc /
6100p
20/09/23
          6700USc /
5400p
03/05/23
CVS Group Colin Grant/Hammad Anwar Outperform 09/03/21 1631p 2700p 23/09/21
Dalata Hotel Group Paul Ruddy Outperform 09/09/14 402c 625c 26/04/23
          580c 17/02/23
Danone Cathal Kenny Neutral 15/10/21 5226c 5680c 20/10/22
Datalex Eleanor Walsh/Stephen Furlong Neutral 31/05/23 59c 40c 28/03/23
DCC Colin Grant/Hammad Anwar Outperform 30/06/09 4609p 9000p 18/05/21
Dole Gary Martin/Cathal Kenny Outperform 24/08/21 1158USc 1500USc 31/05/23
          1446USc 15/03/23
DraftKings Paul Ruddy Neutral 23/03/21 2944USc 2250USc 18/10/22
DSM-Firmenich Cathal Kenny Outperform 09/10/20 8013c 13470c 28/03/23
DS Smith Justin Jordan Outperform 23/01/23 287p 375p 03/04/23
easyJet Stephen Furlong/Eleanor Walsh Outperform 24/01/22 427p 750p 19/06/23
          600p 17/05/23
Entain Paul Ruddy Neutral 13/12/17 933p 1640p 04/08/23
          1650p 18/10/22
FBD Holdings Diarmaid Sheridan/Antonio Duarte Outperform 01/09/17 1220c 1660c 24/10/23
          1785c 13/03/23
Flutter Entertainment Paul Ruddy Outperform 08/05/19 13390p 17000p 29/11/23
          18600p 18/01/23
Forterra plc Flor O'Donoghue/Andrea Collins Neutral 19/08/16 149p 177p 26/10/23
          211p 25/07/23
          273p 16/01/23
Genuit Group Flor O'Donoghue Neutral 05/11/21 330p 326p 19/09/23
          350p 16/01/23
Givaudan Cathal Kenny Outperform 24/03/20 299400chf 329450chf 28/03/23
Glanbia Cathal Kenny Outperform 30/06/09 1561c 1720USc 31/08/23
          1680USc 02/06/23
Glenveagh Properties Colin Sheridan Outperform 10/11/17 99.7c 169c 03/10/23
          162c 10/02/23
Grafton Group Flor O'Donoghue Outperform 07/10/20 904p 1150p 20/11/23
          1300p 14/11/22
Greencoat Renewables Michael Mitchell Outperform 24/08/17 96.2c 125c 09/05/23
          130c 18/10/22
Greencoat UK Wind Michael Mitchell Outperform 09/05/23 140p 186p 09/05/23
Greencore Group Gary Martin/Cathal Kenny Neutral 13/03/18 75.9p 100p 16/08/23
          95p 25/07/23
          86p 13/06/23
Harworth Group Colin Sheridan/Andrea Collins Outperform 19/11/21 106p 213p 19/11/21
Heidelberg Materials Ross Harvey Neutral 04/02/20 7352c 8100c 04/11/21
Hill & Smith Thomas Rands Outperform 18/07/23 1722p 2080p 15/08/23
          1800p 18/07/23
Holcim Ross Harvey Neutral 14/01/22 5878chf 6500chf 30/04/21
Hostelworld Paul Ruddy Outperform 15/12/15 127p 150p 14/05/21
Howden Joinery Flor O'Donoghue Outperform 31/03/22 736p 895p 04/11/22
Huhtamaki Justin Jordan Outperform 04/10/23 3115c 3600c 04/10/23
    Neutral 03/04/23   3500c 03/04/23
hVIVO Colin Grant/Hammad Anwar Outperform 11/10/23 20.2p 29.0p 11/10/23
IAG Stephen Furlong/Eleanor Walsh Outperform 27/09/22 148p 215p 17/05/23
          170p 12/01/23
Ibstock plc Flor O'Donoghue Neutral 04/08/17 143p 190p 19/09/23
          206p 16/01/23
IRES REIT Colin Grant/Hammad Anwar Outperform 08/05/15 92.9c 160c 03/05/23
Irish Continental Group Stephen Furlong/Eleanor Walsh Outperform 30/08/18 447c 700c 11/05/23
ITM Power Michael Mitchell Outperform 23/02/21 75.4p    
Kenmare Colin Grant/Hammad Anwar Outperform 03/08/16 415p 850p 19/06/23
Kerry Group Cathal Kenny Outperform 30/06/09 7918c 11470c 28/03/23
Kingspan Group Flor O'Donoghue Outperform 12/05/11 7096c 8550c 19/09/23
          8300c 12/05/23
Lufthansa Stephen Furlong/Eleanor Walsh Outperform 24/01/22 751p 1200p 17/05/23
          1000p 12/01/23
Malin Corporation Colin Grant/Hammad Anwar Outperform 29/09/15 454c 1550c 15/03/18
Marshalls Ross Harvey Neutral 10/11/21 253p 320p 16/01/23
Mincon Group Colin Sheridan Outperform 14/02/14 80c 135c 18/05/23
Mondi Justin Jordan Neutral 05/05/20 1373p 1400p 19/10/23
          1500p 04/10/23
          1400p 04/05/23
Norwegian Air Stephen Furlong/Eleanor Walsh Neutral 01/09/15 854nok 1200nok 17/051/23
          850nok 12/01/23
Origin Enterprises Cathal Kenny Outperform 30/06/09 326c 460c 21/10/22
Oxford Instruments Thomas Rands Outperfrom 24/10/23 2661p 2500p 16/11/23
          2200p 24/10/23
Permanent tsb Group Diarmaid Sheridan/Antonio Duarte Outperform 04/02/21 215c 373c 21/07/23
          340c 24/01/23
Persimmon Colin Sheridan Neutral 17/08/20 1078p 1393p 01/09/23
          2380p 17/08/20
Redrow Colin Sheridan  Neutral 10/09/13 495p 618p 01/09/23
          568p 01/09/20
Ryanair Holdings Stephen Furlong/Eleanor Walsh Outperform 07/12/09 1592c 2400c 12/09/23
          2200c 17/05/23
Saint-Gobain Group Ross Harvey/Flor O'Donoghue Outperform 29/01/21 5688c 7200c 06/08/21
SCA Justin Jordan Outperform 04/10/23 14995sek 17000sek 04/10/23
    Neutral 03/04/23   14500sek 03/04/23
Smurfit Kappa Group Justin Jordan Outperform 30/06/09 3156c 4700c 29/08/23
          4200c 03/04/23
Spectris Thomas Rands Neutral 24/10/23 4143p 3280p 01/11/23
          3300p 24/10/23
Stelrad Andrea Collins/Flor O'Donoghue Outperform 11/05/23 98p 213p 11/05/23
Stora Enso Justin Jordan Neutral 24/07/23 1189c 1300c 04/10/23
    Outperform 10/05/23   1200c 24/07/23
Symrise Cathal Kenny Outperform 24/03/20 9032c 11440c 28/03/23
Taylor Wimpey Colin Sheridan  Outperform 10/09/13 117p 153p 14/11/23
          157p 01/09/23
THG Gary Martin Neutral 29/09/23 69.8p 80p 20/10/22
Travis Perkins Flor O'Donoghue Neutral 28/05/20 844p 845p 21/06/23
          935p 16/01/23
Treatt Cathal Kenny Neutral 08/04/21 507p 670p 28/03/23
TRIG Michael Mitchell Neutral 09/05/23 107p 145p 09/05/23
Tullow Oil Colin Grant/Hammad Anwar Outperform 15/01/20 34.3p 100p 24/05/23
Tyman Ross Harvey Outperform 24/03/21 289p 320p 16/01/23
Uniphar Colin Grant/Hammad Anwar Outperform 27/08/19 225c 500c 14/01/22
UPM Justin Jordan Outperform 03/04/23 3247c 3800c 04/10/23
          3500c 13/06/23
Vistry Group Colin Sheridan Outperform 10/09/13 912p 907p 01/09/20
Volution Flor O'Donoghue/Ross Harvey Outperform 31/03/21 362p 454p 06/07/23
          419p 16/03/23
Watkin Jones Colin Sheridan Outperform 26/03/21 40p 103p 21/07/23
          247p 09/05/23
Wizz Air Holdings Stephen Furlong/Eleanor Walsh Outperform 12/01/23 1920p 4250p 12/01/23
Xaar Thomas Rands Outperform 24/10/23 225p 200p 24/10/23
XP Power Thomas Rands Outperform 24/10/23 2880p 2550p 08/11/23
          1940p 24/10/23

 

* The validity period for all ratings and price targets is 12 months.

** Market price as of close September 29th 2023.

Last updated: December 5th 2023