Davy Research

Cairn Homes

Story still on track; minor changes to estimates
Construction and Housebuilding
Cairn Homes

DAVY VIEW

The Cairn Homes story continues to progress well. Active sites are delivering good sales velocities, and newer sites will drive volumes towards current targets. The company continues to see good success with planning, and the scope for further value-add is significant. While the stock is currently pricing in a positive medium-term environment, we still see many levers available for the story in the next few years. We reiterate our ‘Outperform’ rating.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Cairn Homes

    Closing Price: 184c

  • RATING 26/08/15

  • PREVIOUS RATING N/A

Analyst(S)

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