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Davy Research

Cairn Homes

FY23 guidance upgraded on higher volume output

Sep 7 2023, 07:10 IST/BST
Colin Sheridan CFA
Company Report
5 page(s)

Sectors : Construction and Housebuilding

Companies : Cairn Homes

Ratings and price correct at time of issue.

Cairn Homes

Closing Price: 113c
RATING 26/08/15
OUTPERFORM
PREVIOUS RATING N/A

Person's Name

Colin Sheridan CFA

Analyst

DAVY VIEW

Carin will be delivering more homes than expected in FY23, driven by strong demand and good progress on construction. Guidance has been increased, and we expect there to be c.5% upgrades from today’s news. The buyback has also been upsized, providing support to the equity story. We retain our ‘Outperform’ rating.

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Sep 7 2023, 07:10 IST/BST