Broker tips: Housing stocks, Reckitt Benckiser, Majestic Wine
Housebuilders were putting in decent gains on Friday as Jefferies upgraded ratings for stocks across the sector after recent data pointed to a stronger pre-election housing market than anticipated.
Barratt Developments
482.10p
17:00 04/10/24
Bellway
3,172.00p
16:34 04/10/24
Berkeley Group Holdings (The)
4,781.00p
16:40 04/10/24
Countrywide
394.80p
16:35 05/03/21
Crest Nicholson Holdings
195.70p
17:15 04/10/24
FTSE 100
8,280.63
16:49 04/10/24
FTSE 250
20,900.08
17:14 04/10/24
FTSE 350
4,570.17
17:14 04/10/24
FTSE AIM 100
3,593.44
16:54 04/10/24
FTSE AIM 50
4,039.70
16:54 04/10/24
FTSE AIM All-Share
738.36
16:54 04/10/24
FTSE All-Share
4,527.24
16:54 04/10/24
General Retailers
4,211.99
17:14 04/10/24
Household Goods & Home Construction
14,509.70
17:14 04/10/24
Media
12,325.15
17:14 04/10/24
Naked Wines
56.35p
16:34 04/10/24
Persimmon
1,659.50p
17:15 04/10/24
Real Estate Investment & Services
2,472.97
17:14 04/10/24
Reckitt Benckiser Group
4,557.00p
17:15 04/10/24
Redrow
779.00p
16:44 22/08/24
Taylor Wimpey
165.80p
16:45 04/10/24
Vistry Group
1,311.00p
16:45 04/10/24
ZPG Plc
490.40p
16:59 11/07/18
The broker raised Bellway, Bovis Homes, Countrywide, Crest Nicholson, Redrow, Taylor Wimpey and Zoopla from 'hold' to 'buy'. Barratt Developments, Berkeley and Persimmon were lifted from 'underperform' to 'hold'.
Shares in Reckitt Benckiser rose after receiving a boost by analysts at UBS who upgraded their rating on the stock to ‘buy’ from ‘hold’.
UBS analysts said that in a sector they have turned increasingly more cautious on, Reckitt Benckiser is the favourite pick, raising their target price on the stock to 6505p from 5500p.
Majestic Wine's share price weakened on Friday after the announcement that it will buy rival Naked Wines for £70m, though analysts at Investec hailed the deal, saying it will open up the retailer's growth potential.
Investec, which upgraded the stock from 'hold' to 'buy', said the additional appointment of Naked Wine's boss Rowan Gormley as Majestic's new chief executive, will also give the business a boost.