Construction & Materials (2350)

10,064.40
   
  • 52 Week High: 10,064.40
  • 52 Week Low: 7,503.86

Barclays upgrades Breedon Group to 'overweight'

By Michele Maatouk

Date: Friday 23 Feb 2024

LONDON (ShareCast) - (Sharecast News) - Barclays upgraded construction materials company Breedon Group on Friday to 'overweight' from 'equalweight' and hiked the price target to 450p from 380p.
The bank said it expects 2024 to represent a trough year for volumes and sees scope for margin upside supported by both a residential-led volume recovery from the second half and improved price/cost.

"With the balance sheet providing optionality and the stock on close to a trough price-to-earnings multiple, we see this as a valuation opportunity and upgrade to OW," it said.

At 0835 GMT, the shares were up 0.4% at 370p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.

 

Price Data

Price 10,064.40
Closing Price Change 112.17
% Change 1.13 %
02-May-24 Close 10,064.40

Top Risers

Price Change
ELCO 105.00p +8.2%
GFRD 254.00p +5.0%
BRCK 70.80p +3.8%
MGNS 2,335.00p +3.8%
BILN 565.00p +3.7%
LORD 49.50p +3.1%
KLR 1,132.00p +2.0%
IBST 150.20p +1.9%
BBY 373.20p +1.4%
TYMN 380.00p +1.2%

Top Fallers

Price Change
STCM 17.50p -7.9%
ZED 1.90p -7.3%
TRAF 0.040p -5.9%
EQT 1.75p -4.1%
NEXS 68.00p -2.9%
EPWN 91.50p -2.5%
JHD 199.00p -2.5%
FAN 434.00p -2.4%
GLE 494.00p -2.0%
SFR 67.80p -1.2%

Top of Page