In a sector note on UK Homebuilding, Citi analyst Ami Galla upgraded Persimmon (PSMMY) to Buy from Neutral with a price target of 1,450 GBp, down from 1,540 GBp. The firm said it remains positive on the sector’s multi-year cyclical recovery even as it expects “more sluggish improvement near term.” For Persimmon, Citi believes the cost headwinds and concerns on the pace of medium-term earnings recovery are “now well reflected in current valuation” and thinks the stock “should benefit from a broader housing cycle recovery.”
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Read More on PSMMY:
- Persimmon price target lowered to 1,600 GBp from 1,721 GBp at Morgan Stanley
- Persimmon downgraded to Underperform from Sector Perform at RBC Capital
- Persimmon price target lowered to 1,540 GBp from 1,605 GBp at Citi
- Persimmon price target lowered to 1,475 GBp from 1,500 GBp at RBC Capital
- Persimmon price target raised to 1,605 GBp from 1,561 GBp at Citi
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
