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Jan 19 2024, 07:30 GMT
Glenveagh Properties
Increasing price target to 172c
- Sectors : Construction and Housebuilding
- Companies : Glenveagh Properties
DAVY VIEW
We are increasing our price target modestly to 172c this morning on the back of better FY23 results from Glenveagh. At just 1.0x book value and with the company likely to generate 15% return on equity this year, there is significant upside to the stock from these levels. We reiterate our ‘Outperform’ rating.
