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 64 72 25 96
Neutral 23 26 0 0
Underperform 1 1 0 0
Under Review 0 0 1 4
Suspended 0 0 0 0
Restricted 1 1 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 7432USc 7600USc 31/03/21
AIB Group Diarmaid Sheridan Outperform 23/01/19 388c 548c 30/01/24
          521c 21/07/23
          463c 20/03/23
Air France KLM Stephen Furlong/Eleanor Walsh Outperform 17/05/23 1359c 2750c 17/01/24
    Neutral 12/01/23   2300c 17/05/23
Associated British Foods Gary Martin/Cathal Kenny Outperform 05/07/11 2367p 2800p 29/01/24
          2700p 15/11/23
          2500p 13/09/23
Bank of Ireland Diarmaid Sheridan Outperform 11/03/13 822c 1622c 30/01/24
          1564c 21/07/23
          1334c 20/03/23
Barratt Developments Colin Sheridan  Outperform 25/06/20 562p 560p 08/03/24
Bellway Colin Sheridan  Outperform 24/03/14 2568p 2956p 12/02/24
          2830p 01/09/23
Berkeley Group Colin Sheridan  Underperform 10/09/13 4688p 3995p 24/06/20
Breedon Group Ross Harvey Outperform 22/11/19 362p 600p 27/07/21
Buzzi Unicem Ross Harvey Outperform 04/04/16 2754c 2600c 30/03/21
C&C Cathal Kenny Outperform 30/06/09 153p 300p 20/10/22
Cairn Homes Colin Sheridan Outperform 26/08/15 132c 196c 26/01/24
          184c 10/10/2
          174c 14/03/23
Corre Energy Michael Mitchell Outperform 21/10/21 202c 585c 03/08/23
          320c 07/10/22
Cranswick Gary Martin/Cathal Kenny Outperform 09/11/16 3808p 4850p 22/01/24
          4650p 05/12/23
          4000p 20/07/23
CRH Ross Harvey Outperform 23/05/12 6916USc / 
5410p
7500USc /
6100p
20/09/23
          6700USc /
5410p
03/05/23
CVS Group Colin Grant Outperform 09/03/21 1683p 1600p 13/03/24
Dalata Hotel Group Paul Ruddy Outperform 09/09/14 462c 670c 12/03/24
          625c 26/04/23
Danone Cathal Kenny Neutral 15/10/21 5868c 5680c 20/10/22
Datalex Eleanor Walsh/Stephen Furlong Neutral 31/05/23 61c 40c 28/03/23
DCC Colin Grant Outperform 30/06/09 5778p 9000p 18/05/21
Dole Gary Martin/Cathal Kenny Outperform 24/08/21 1229USc 1500USc 31/05/23
          1446USc 15/03/23
DraftKings Paul Ruddy Neutral 23/03/21 3525USc 3950USc 28/02/24
DS Smith Justin Jordan Outperform 23/01/23 307p 400p 09/01/24
          375p 03/04/23
DSM-Firmenich Cathal Kenny Outperform 09/10/20 9200c 11370c 31/01/24
          13470c 28/03/23
easyJet Stephen Furlong/Eleanor Walsh Outperform 24/01/22 510p 750p 19/06/23
          600p 17/05/23
Entain Paul Ruddy Neutral 13/12/17 994p 1060p 21/12/23
          1640p 04/08/23
FBD Holdings Diarmaid Sheridan Outperform 01/09/17 1135c 1660c 24/10/23
          1785c 13/03/23
Flutter Entertainment Paul Ruddy Outperform 08/05/19 13940p 17000p 29/11/23
          18600p 18/01/23
Forterra plc Flor O'Donoghue/Andrea Collins Neutral 19/08/16 177p 183p 22/01/24
          177p 26/10/23
          211p 25/07/23
Genuit Group Flor O'Donoghue Neutral 05/11/21 404p 390p 22/01/24
          326p 19/09/23
Givaudan Cathal Kenny Neutral 31/01/24 348400chf 366000chf 31/01/24
    Outperform 24/03/20   329450chf 28/03/23
Glanbia Cathal Kenny Outperform 30/06/09 1491c 2060c 06/03/24
          1720c 31/08/23
          1680c 02/06/23
Glenveagh Properties Colin Sheridan Outperform 10/11/17 122c 198c 10/04/24
          172c 19/01/24
          169c 03/10/23
Grafton Group Flor O'Donoghue Outperform 07/10/20 911p 1200p 22/03/24
          1150p 20/11/23
Greencoat Renewables Michael Mitchell Outperform 24/08/17 102c 125c 09/05/23
          130c 18/10/22
Greencoat UK Wind Michael Mitchell Outperform 09/05/23 152p 180p 04/03/24
          186p 09/05/23
Greencore Group Gary Martin/Cathal Kenny Outperform 04/04/24 96p 140p 04/04/24
          100p 16/08/23
          95p 25/07/23
          86p 13/06/23
Harworth Group Colin Sheridan/Andrea Collins Outperform 19/11/21 122p 213p 19/11/21
Heidelberg Materials Ross Harvey Neutral 04/02/20 8094c 8100c 04/11/21
Hill & Smith Thomas Rands Outperform 18/07/23 1908p 2210p 15/03/24
          2140p 10/01/24
          2080p 15/08/23
Holcim Ross Harvey Neutral 14/01/22 6602chf 6500chf 30/04/21
Hostelworld Paul Ruddy Outperform 15/12/15 137p 150p 14/05/21
Howden Joinery Flor O'Donoghue Outperform 31/03/22 814p 945p 22/01/24
          895p 04/11/22
Huhtamaki Justin Jordan Outperform 04/10/23 3682c 4200c 09/01/24
    Neutral 03/04/23   3600c 04/10/23
    Neutral 03/04/23   3500c 03/04/23
hVIVO Colin Grant Outperform 11/10/23 24p 29.0p 11/10/23
IAG Stephen Furlong/Eleanor Walsh Neutral 17/01/24 155p 175p 17/01/24
          215p 17/05/23
Ibstock plc Flor O'Donoghue Neutral 04/08/17 152p 173p 22/01/24
          190p 19/09/23
IMI plc Thomas Rands Outperform 29/02/24 1751p 2500p 29/02/24
IRES REIT Colin Grant Restricted 08/01/24 111c    
Irish Continental Group Stephen Furlong/Eleanor Walsh Outperform 30/08/18 433c 700c 11/05/23
ITM Power Michael Mitchell Outperform 23/02/21 59p    
Kenmare Colin Grant Outperform 03/08/16 395p 850p 19/06/23
Kerry Group Cathal Kenny Outperform 30/06/09 7866c 10490c 31/01/24
          11470c 28/03/23
Kingspan Group Flor O'Donoghue Outperform 12/05/11 7840c 9200c 28/02/24
          8700c 22/01/24
          8550c 19/09/23
          8300c 12/05/23
Lufthansa Stephen Furlong/Eleanor Walsh Outperform 24/01/22 805p 1200p 17/05/23
          1000p 12/01/23
Malin Corporation Colin Grant Outperform 29/09/15 450c 1550c 15/03/18
Marshalls Ross Harvey Neutral 10/11/21 279p 300p 22/01/24
Mincon Group Colin Sheridan Outperform 14/02/14 64c 90c 06/02/24
          135c 18/05/23
Mondi Justin Jordan Neutral 05/05/20 1538p 1550p 09/01/24
          1400p 19/10/23
          1500p 04/10/23
          1400p 04/05/23
Norwegian Air Stephen Furlong/Eleanor Walsh Neutral 01/09/15 1072nok 1300nok 17/01/24
          1200nok 17/05/23
Origin Enterprises Cathal Kenny Outperform 30/06/09 344c 460c 21/10/22
Oxford Instruments Thomas Rands Outperfrom 24/10/23 2295p 2500p 16/11/23
          2200p 24/10/23
Permanent tsb Group Diarmaid Sheridan Outperform 04/02/21 170c 390c 30/01/24
          373c 21/07/23
Persimmon Colin Sheridan Neutral 17/08/20 1389p 1393p 01/09/23
          2380p 17/08/20
Redrow Colin Sheridan  Neutral 10/09/13 616p 633p 08/03/24
          618p 01/09/23
Ryanair Holdings Stephen Furlong/Eleanor Walsh Outperform 07/12/09 1908c 2400c 12/09/23
          2200c 17/05/23
Saint-Gobain Group Ross Harvey/Flor O'Donoghue Outperform 29/01/21 6666c 7200c 06/08/21
SCA Justin Jordan Outperform 04/10/23 15075sek 17500sek 09/01/24
          17000sek 04/10/23
    Neutral 03/04/23   14500sek 03/04/23
Smurfit Kappa Group Justin Jordan Outperform 30/06/09 3588c 5000c 09/01/24
          4700c 29/08/23
          4200c 03/04/23
Spectris Thomas Rands Neutral 24/10/23 3779p 3280p 01/11/23
          3300p 24/10/23
Stelrad Andrea Collins/Flor O'Donoghue Outperform 11/05/23 131p 190p 22/01/24
          213p 11/05/23
Stora Enso Justin Jordan Neutral 24/07/23 1253c 1250c 20/02/24
    Outperform 10/05/23   1400c 09/01/24
          1300c 04/10/23
          1200c 24/07/23
Symrise Cathal Kenny Outperform 24/03/20 9964c 10930c 08/03/24
          10570c 31/01/24
          11440c 28/03/23
Taylor Wimpey Colin Sheridan  Outperform 10/09/13 147p 153p 14/11/23
          157p 01/09/23
THG Gary Martin Neutral 29/09/23 85p 80p 20/10/22
Travis Perkins Flor O'Donoghue Neutral 28/05/20 829p 873p 22/01/24
          845p 21/06/23
Treatt Cathal Kenny Neutral 08/04/21 503p 554p 31/01/24
          670p 28/03/23
TRIG Michael Mitchell Neutral 09/05/23 114p 135p 05/03/24
          145p 09/05/23
Tullow Oil Colin Grant Outperform 15/01/20 39p 100p 24/05/23
Tyman Ross Harvey Outperform 24/03/21 315p 370c 22/01/24
          320c 16/01/23
Uniphar Colin Grant Outperform 27/08/19 270c 500c 14/01/22
UPM Justin Jordan Outperform 03/04/23 3413c 3700c 20/02/24
          4200c 09/01/24
          3800c 04/10/23
          3500c 13/06/23
Vistry Group Colin Sheridan Outperform 10/09/13 918p 907p 01/09/20
Volution Flor O'Donoghue/Ross Harvey Outperform 31/03/21 434p 493p 22/01/24
          454p 06/07/23
          419p 16/03/23
Watkin Jones Colin Sheridan Outperform 26/03/21 58p 103p 21/07/23
          247p 09/05/23
Weir Group plc Thomas Rands Outperform 26/01/24 1816p 2200p 26/01/24
Wizz Air Holdings Stephen Furlong/Eleanor Walsh Neutral 17/01/24 2211p 2100p 17/01/24
Xaar Thomas Rands Outperform 24/10/23 117p 165p 09/01/24
          200p 24/10/23
XP Power Thomas Rands Outperform 24/10/23 1356p 2530p 19/02/24
          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 December 29th 2023.

Last updated: April 10th 2024