Deutsche Bank analysts cut forecasts for housebuilders
Deutsche Bank’s analysts have cut forecasts for housebuilders, advising anyone who bought in the autumn sell-off to consider cashing out
In a note from adviser John Bell, Deutsche said it was not advising its clients to buy any of the housebuilder stocks.
Barratt Developments, Crest Nicholson, Redrow and Taylor Wimpey were all stripped of their “buy” ratings and moved down to “hold”. Persimmon was downgraded from “hold” to “sell”.
Deutsche Bank’s analysts have cut forecasts for housebuilders, advising anyone who bought in the autumn sell-off to consider cashing out
In a note from adviser John Bell, Deutsche said it was not advising its clients to buy any of the housebuilder stocks.
Barratt Developments, Crest Nicholson, Redrow and Taylor Wimpey were all stripped of their “buy” ratings and moved down to “hold”. Persimmon was downgraded from “hold” to “sell”.
On the FTSE, Crest shares were the worst-affected as they retreated by 13p, or 5.3%, to 234.25p; Redrow fell by 20p, or 3.8%, to 510.5p; Persimmon declined 55p, or 3.7%, to £14.36; Taylor Wimpey dipped 3.75p, or 3%, to 118p; and Barratt was marked down 12.5p, or 2.6%, to 460p.
The Times (£)
