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BARCLAYS INITIATES REDROW WITH 'OVERWEIGHT' - TARGET 540 PENCE
"From todays Times on the theme of the daily mail article"
Apologies coffee needed you cant click edit on this flipping site!
From todays time on the theme on the daily mail article
"The latest proposal is seen by the housing industry as a replacement for Help to Buy, which will end in 2023, and was welcomed by leading players. “First-time buyers need help,” said Pete Redfern, chief executive of builder Taylor Wimpey."
Should see a nice push up on the sector on this news, even more so on the likes of RDW which has been oversold more than most
Helps housebuilders like redrow:
https://www.dailymail.co.uk/news/article-8800403/Boris-Johnson-plans-Generation-Buy-low-deposit-mortgage-scheme.html
Basically this will push up the price of housing as more sales will happen because people who usually can't afford a house would now be able to buy with the lenders/banks money.
So funny how politicians keep pushing low mortgages as the solution when in reality it hurts buyers long term. Great for me and other shareholders though.
https://www.eadt.co.uk/news/499-homes-great-wilsey-park-haverhill-suffolk-approved-1-6867083
DEUTSCHE BANK RAISES REDROW PRICE TARGET TO 500 (482) PENCE - 'BUY'
So for them, an improving situation.
MACD about to up cross we are turning bullish
Smashing it today..go redrow!
Sharecast News) - UK housebuilders are too cheap to ignore, Jefferies said in a research note on Thursday.
"With construction looking un-impacted by the latest Covid measures and the strength in the housing market providing increasing comfort on the sustainability of demand, we see the UK housebuilders as oversold," the bank said.
"News flow on Covid, Brexit, stamp duty and help-to-buy changes will likely create share price volatility near term. Nonetheless, we see current share price weakness as presenting a great entry point for our key picks: Persimmon, Berkeley, Barratt."
Jefferies noted that to date, housebuilders have said that local lockdowns such as the one in Leicester have not impacted construction build-out on site. As a result, the bank reckons that similar will be true of Tuesday's step-up in Covid measures and would even be the case in a scenario of a more aggressive lockdown.
"Reflecting this, the more important impact of the lockdown for the sector will likely be the influence on customer demand," it said. However, it said that with agreed sales up 40% year-on-year, mortgage demand ahead of levels lenders can process, and house price inflation 3-5%, recent housing data, provide increasing comfort on its forecasts.
"Near term share prices may remain volatile reflecting macro news flow, with an air pocket in company news flow until the November trading updates which should be able to provide colour on demand for housing for April and beyond (i.e. after the expiry of the stamp duty holiday and Help to Buy changes).
"Nonetheless, with valuations reflecting house price declines of up to 14%, we believe the profitability and return on equity profile of the sector remains significantly under-estimated."
some smallish sells ,looks like a strong finish today
good to see how moving today ,good to see the buying volume
Yvonne Tutte, chairmans wife notifies buying substantial quantity. Make of that what you will, but she is not the only relative buying shares in husbands new build business today. I think the strength of the sector going forward now may be underestimated.
I think its due to the downward momentum it already had
IMHO now is the time to buy not sell. Im holding quite a lot at 450 but will be topping up quite heavy anytime soon
Its almost impossible to catch the bottom but 300-325 range it was the chart is telling me although I may miss out if we've bottomed today at 351.8
Remember this will climb back to the 450's range just as fast as it went down when the dust settles..beyond that is going to take a lot of time I think..DYOR
Well, Crest is down more, but maybe it's because they're FTSE 250 companies and others are FTSE 100 companies, where the index hasn't fallen as much?
It's pretty academic really as pretty much everything is being battered and I reckon there's plenty more to come.
I'm severely tempted to sell every holding I have.
Anybody know why RDW share price has been more badly hit than other shares in the sector today?
Definitely Im looking to top up and average down my price asap
The share price reduction has surely been overdone as I cannot believe that Redrow has lost almost half of its value ( 412 pence currently) In the downturn from what its share price was in February this year viz 800 pence. The tide will turn I am sure.
In full
LIBERUM RAISES REDROW PRICE TARGET TO 460 (410) PENCE - 'HOLD'
JEFFERIES RAISES REDROW PRICE TARGET TO 666 (653) PENCE - 'BUY'
JPMORGAN RAISES REDROW PRICE TARGET TO 520 (510) PENCE - 'NEUTRAL'
Backing out of London cost RDW about £35 million but their developments around the country are the way forward. Onwards and upwards now the bad news is behind us.
* Redrow Plc : Jefferies raises target price to 666p from 653p
* Redrow Plc : JP Morgan raises target price to 520p from 510p
I just read that rdw did not use the furlough scheme
Well done!
Redrow: Canaccord reiterates buy with a target price of 550.0p.
impairments in connection with the scaling back of the London business hit hard. One off cost so looks goodish short term and v. good medium longterm
Market markers fishing for stop's @ 440 so be careful if you have them