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Aug 28 2024, 07:00 IST/BST
Construction and Housebuilding
Modest volume improvements but affordability still key concern
- Sectors : Construction and Housebuilding
- Companies : Persimmon plc | Vistry Group | Barratt Developments plc | Berkeley Group | Bellway plc | Taylor Wimpey plc
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Barratt Developments plc | OUTPERFORM | 25/06/20 | Neutral | 24/03/14 | 527p |
| Bellway plc | OUTPERFORM | 24/03/14 | Neutral | 10/09/13 | 3040p |
| Persimmon plc | NEUTRAL | 17/08/20 | Underperform | 10/09/13 | 1651p |
| Berkeley Group | UNDERPERFORM | 10/09/13 | Under Review | 21/05/13 | 5010p |
| Vistry Group | OUTPERFORM | 10/09/13 | Under Review | 21/05/13 | 1358p |
| Taylor Wimpey plc | OUTPERFORM | 10/09/13 | Under Review | 21/05/13 | 161p |
DAVY VIEW
Affordability will continue to act as a drag on UK homebuilder demand into the near future and provides reasons to be cautious in the near term. Modest volume improvements versus consensus have helped recently, but a material acceleration in expectations is required for further re-ratings. Our preference is for Bellway.
