Davy Morning Equity Briefing
Feb 18, 2026
Bank of Ireland
Exit from US Leveraged Acquisition Finance book
The exit from its US Leveraged Acquisition Finance (LAF) business is the latest instance of portfolio management by Bank of Ireland (BIRG). With Irish growth opportunities continuing to screen attractively, it is sensible to recycle capital towards core parts of the business and this move should therefore not be overly surprisingly. BIRG will provide an update on its strategy on March 2nd 2026 where we expect growth to be a core tenet of the update.
Travis Perkins plc
Cutting 2026 forecasts as outlook remains subdued
2025 was something of a year of transition for Travis Perkins, but our downward revision of current year estimates underlines how trading conditions remain unaccommodating. The stock has regained some ground recently, but we believe that as long as end-markets remain a brake on Travis Perkins’ recovery potential, then caution is merited.
