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Davy Research

Glenveagh Properties

Increasing price target to 169c

Oct 3 2023, 07:05 IST/BST
Colin Sheridan CFA
Company Report
7 page(s)

Sectors : Construction and Housebuilding

Companies : Glenveagh Properties

Ratings and price correct at time of issue.

Glenveagh Properties

Closing Price: 98.2c
RATING 10/11/17
OUTPERFORM
PREVIOUS RATING N/A

Person's Name

Colin Sheridan CFA

Analyst

DAVY VIEW

We have left EPS unchanged in our new numbers today, but our price target has moved up by 4% to 169c due to a higher cash flow in FY23 and better return on capital employed (RoCE) in the coming years. The stock is significantly undervalued today, and we reiterate our ‘Outperform’ rating.

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Oct 3 2023, 07:05 IST/BST