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It does seem like common sense has prevailed on the sp today and the news has been taken positively. Very extraordinary in my view... unless I'm missing something ridiculously obvious?! The business would appear to be on a firmer footing now as you say. Hopefully we will see continued upside now.
Agreed Cautiousman. It seems that the drop over summer was, for once, a buying op. I managed to grab a few more at 134p and keep refusing to buy any more as it is still going up and I keep telling myself it will run put of steam soon. But it hasn't yet!
It’s Emma Powell, and I tend to think that by the time the journalists have spotted a fall in a share price it’s always worth a closer look. As you pointed out, buying their recommendations can be a problem…!
Less than complimentary article in the times today commenting on Persimmon vis a vis other builders. Journalist cites shares trading at a multiple of twelve, less divi than other builders and the need to build up more outlets as reasons for her ‘avoid’ rating. It’s a bit weak on detail specific to PSN focusing on issues affecting the whole sector for three quarters of the article. Page 40 if anyone’s looking.
Says it all really, market makes an almost apologetic partial recovery in response to the panic driven sell off pre results. Up 50p from the 116p low on the 16th. Be interesting to see how much steam is in this rally.
Lots of buys so far… that drop to 116p at 8am was brief. See how it ends the day. I do think everything is priced in now and the market should move it back up in view of the expected revenue by year end. A divi cut has been more than priced in.