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	54	67	25	96
Neutral	23	28	0	0
Underperform	2	2.5	0	0
Under Review	0	0	1	4
Suspended	0	0	0	0
Restricted	2	2.5	0	0

Research ratings and price targets

STOCK	ANALYST(S)	RATINGS*	DATE OF ISSUE	HISTORIC MARKET PRICE**	PRICE TARGET*	DATE OF ISSUE
AG Barr	Gary Martin	Outperform	19/09/24	633p	815p	06/06/25
AIB Group	Diarmaid Sheridan	Outperform	23/01/19	1028c	1145c	08/04/26
					1095c	30/01/26
					1010c	12/11/25
					955c	22/10/25
Air France KLM	Stephen Furlong/Ava Costello	Neutral	14/01/26	1367c	1200c	16/01/25
Associated British Foods	Gary Martin/Cathal Kenny	Neutral	18/09/25	1986p	2000p	08/07/26
					2150p	12/01/26
					2300p	18/09/25
Bank of Ireland	Diarmaid Sheridan	Outperform	11/03/13	1743c	2211c	08/04/26
					1910c	30/01/26
					1830c	12/11/25
					1770c	22/10/25
Barratt Redrow	Colin Sheridan/Ciaran Mulqueen	Outperform	25/06/20	281p	330p	27/05/26
Bellway	Colin Sheridan/Ciaran Mulqueen	Outperform	24/03/14	1938p	3743p	04/11/25
Berkeley Group	Colin Sheridan/Ciaran Mulqueen	Underperform	10/09/13	3498p	2800p	27/05/26
Breedon Group	Kate Nurse	Neutral	05/06/25	296p	355p	28/05/26
Buzzi Spa	Colin Sheridan	Outperform	04/04/16	4479c	5500c	16/09/25
C&C	Cathal Kenny	Outperform	30/06/09	94p	300p	20/10/22
Cairn Homes	Colin Sheridan	Outperform	26/08/15	247c	271c	19/03/26
					243c	10/02/26
					229c	23/09/25
Cranswick	Gary Martin/Cathal Kenny	Outperform	09/11/16	5500p	6600p	04/03/26
CRH	Colin Sheridan	Outperform	23/05/12	10700USc	14400USc	12/03/26
					14200USc	20/08/25
CVS Group	Colin Grant	Outperform	09/03/21	1173p	1600p	13/03/24
Danone	Gary Martin/Cathal Kenny	Outperform	06/03/25	7174c	8500c	28/10/25
DCC	Colin Grant	Restricted	29/04/26	6240p
Diploma plc	Colin Grant	Neutral	28/08/25	7130p	6200p	19/03/26
					5500p	28/08/25
Dole	Gary Martin/Cathal Kenny	Outperform	24/08/21	1372USc	2150USc	13/08/25
DraftKings	Paul Ruddy	Outperform	16/04/26	2526USc	2850USc	16/04/26
dsm-firmenich	Cathal Kenny	Outperform	09/10/20	8300c	7440c	25/03/26
					9000c	22/01/26
					10700c	17/09/25
easyJet	Ava Costello/Stephen Furlong	Neutral	16/01/25	558p	690p	09/07/26
					400p	28/05/26
					520p	14/01/26
Entain	Paul Ruddy	Outperform	25/09/25	559p	1080p	25/09/25
FBD Holdings	Diarmaid Sheridan	Outperform	01/09/17	1710c	1860c	20/03/26
					1630c	13/08/25
Flutter Entertainment plc	Paul Ruddy	Outperform	08/05/19	10217USc	22000USc	27/03/26
					29400USc	23/12/25
					30700USc	25/11/25
Forterra plc	Flor O'Donoghue	Neutral	19/08/16	135p	192p	17/01/25
Genuit Group	Flor O'Donoghue	Neutral	05/11/21	277p	380p	28/11/25
Givaudan	Cathal Kenny	Outperform	09/09/25	342000chf	401060chf	22/01/26
					429000chf	19/06/25
Glanbia	Cathal Kenny	Outperform	30/06/09	2446c	2060c	06/03/24
Glenveagh Properties	Colin Sheridan	Outperform	10/11/17	251c	256c	04/06/26
					249c	01/04/26
					228c	21/01/26
					221c	29/09/25
Grafton Group	Flor O'Donoghue	Outperform	07/10/20	901p	1150p	18/07/25
Greencoat Renewables	Kate Nurse	Outperform	24/08/17	73.9c	110c	13/05/24
Greencoat UK Wind	Kate Nurse	Outperform	09/05/23	102p	157p	16/10/25
Greencore Group	Gary Martin/Cathal Kenny	Outperform	04/04/24	199p	360p	04/03/26
					325p	15/01/26
Greggs	Gary Martin	Outperform	26/11/25	1600p	1730p	26/11/25
Harworth Group	Ciaran Mulqueen/Colin Sheridan	Outperform	19/11/21	120p	252p	19/09/24
Heidelberg Materials	Colin Sheridan	Underperform	30/05/24	16690c	17200c	16/09/25
Hill & Smith	Colin Grant	Neutral	09/06/25	2745p	2600p	20/05/26
Holcim	Colin Sheridan	Neutral	14/01/22	7288chf	6600chf	16/09/25
Hostelworld	Paul Ruddy	Outperform	15/12/15	112p	130p	14/05/25
Howden Joinery	Flor O'Donoghue	Outperform	31/03/22	838p	915p	17/01/25
hVIVO	Colin Grant	Outperform	11/10/23	6.8p	29.0p	11/10/23
IAG	Stephen Furlong/Ava Costello	Outperform	14/01/26	478p	525p	14/01/26
Ibstock plc	Flor O'Donoghue	Neutral	30/06/25	91.9p	135p	28/11/25
IMI plc	Colin Grant	Neutral	20/05/26	2964p	2800p	20/05/26
IRES REIT	Colin Grant	Outperform	08/05/15	117c	160c	03/05/23
Irish Continental Group	Stephen Furlong/Ava Costello	Outperform	30/08/18	622c	730c	05/09/25
Jet2 plc	Ava Costello/Stephen Furlong	Neutral	14/01/26	1292p	1260p	28/05/26
					1500p	14/01/26
Kenmare	Colin Grant	Outperform	03/10/16	200p	550p	28/04/26
Kerry Group	Cathal Kenny	Outperform	30/06/09	8035c	10100c	22/01/26
Kingspan Group	Flor O'Donoghue	Outperform	12/05/11	7995c	9700c	14/03/25
lastminute.com	Ava Costello/Stephen Furlong	Outperform	28/05/26	1290chf	1940chf	28/05/26
Lufthansa	Stephen Furlong/Ava Costello	Outperform	24/01/22	1001p	1200p	17/05/23
Malin Corporation	Colin Grant	Outperform	29/09/15	745c	1550c	15/03/18
Marshalls	Flor O'Donoghue	Neutral	10/11/21	150p	185p	28/11/25
					210p	20/08/25
Mincon Group	Colin Sheridan	Outperform	14/02/14	67c	82c	12/03/26
Mondi	Ciaran Mulqueen	Neutral	25/05/26	684p	850p	25/05/26
Norwegian Air	Stephen Furlong/Ava Costello	Neutral	01/09/15	1474nok	1750nok	14/01/26
On the Beach	Ava Costello/Stephen Furlong	Outperform	03/07/25	175p	250p	28/05/26
Origin Enterprises	Cathal Kenny	Outperform	30/06/09	416c	460c	21/10/22
Permanent tsb Group	Diarmaid Sheridan	Restricted	30/10/25	300c
Persimmon	Colin Sheridan/Ciaran Mulqueen	Neutral	17/08/20	1050p	1000p	27/05/26
Robertet	Gabriele Bunyte/Cathal Kenny	Neutral	16/12/25	80600p	90000c	16/12/25
Ryanair Holdings	Stephen Furlong/Ava Costello	Outperform	07/12/09	2735c	3400c	14/01/26
					2700c	23/07/25
Saint-Gobain Group	Flor O'Donoghue/Kate Nurse	Outperform	29/01/21	7916c	10440c	19/02/26
SigmaRoc	Kate Nurse	Outperform	18/09/24	128p	148p	29/10/25
Smurfit Westrock	Ciaran Mulqueen	Outperform	08/07/24	4626USc	4600USc	23/03/26
SSP Group	Tara Tabesh/Paul Ruddy	Outperform	18/06/26	188p	225p	18/06/26
Stelrad	Flor O'Donoghue	Outperform	11/05/23	150p	175p	28/11/25
Symrise	Cathal Kenny	Outperform	24/03/20	8782c	9350c	22/01/26
Taylor Wimpey	Colin Sheridan/Ciaran Mulqueen	Outperform	10/09/13	80.7p	100p	27/05/26
Travis Perkins	Flor O'Donoghue	Neutral	28/05/20	553p	685p	08/04/25
TRIG	Kate Nurse	Neutral	09/05/23	73p	135p	05/03/24
Uniphar	Colin Grant	Outperform	27/08/19	445c	670c	05/05/26
Vistry Group	Colin Sheridan/Ciaran Mulqueen	Neutral	24/12/24	257p	325p	27/05/26
Volution	Flor O'Donoghue	Outperform	08/04/26	611p	700p	08/04/26
					660p	28/11/25
Watkin Jones	Ciaran Mulqueen/Colin Sheridan	Outperform	26/03/21	18.5p	103p	21/07/23
Weir Group plc	Colin Grant	Neutral	23/01/26	2404p	2500p	20/05/26
					3000p	23/01/26
Wizz Air Holdings	Stephen Furlong/Ava Costello	Neutral	17/01/24	1190p	1400p	14/01/26
XPS Pension Services	Thomas Ryan	Outperform	07/01/25	308p	436p	07/07/26
					463p	06/08/25

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

** Market price as of close June 30th 2026.

Last updated: July 9th 2026