Breedon Group

Progress on all fronts; upgrading estimates by 14%

  • Sectors : Building Materials
  • Companies : Breedon Group

Ratings and price correct at time of issue.

  • Breedon Group

    Closing Price: 108p

  • RATING 22/11/19

  • PREVIOUS RATING 25/10/17



We expected strong interim results from Breedon, and the company did not disappoint. On the back of that out-turn, we have upgraded our FY21 underlying EBIT forecasts by 14% to £130m. The group has expertly navigated the past 18 months and is now poised to capitalise on both organic and inorganic opportunities in its end-markets. Government spending is driving market growth, and a healthy balance sheet is facilitating increased capex, bolt-on opportunities and a progressive dividend. H1 was impressive and we think there is more to come. We reiterate our ‘Outperform’ stock rating and increase our price target to 120p.

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Jul 28 2021, 06:50 IST/BST