Davy Research

Breedon Group

High on Hope but 'Neutral' for now
Building Materials
Breedon Group

DAVY VIEW

Breedon offers quality exposure to the consolidation opportunity in the UK heavyside market. The transformational Hope deal, led by a proven management team, provides scale and further opportunity going forward. However, despite its internal strengths, Breedon faces a highly uncertain UK environment in 2017 that weighs on our overall forecasts. With the valuation stretched, the stock circling all-time highs and uncertainty around the corner, we initiate with a ‘Neutral’ rating and a price target of 76p.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Breedon Group

    Closing Price: 75.1p

  • RATING 01/01/00

  • PREVIOUS RATING N/A

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