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Prices & Quotes - UK Markets - Redrow (RDW)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 634.40p
Change Today:
-18.40p
Market Cap:
2,234.30m
Sector:
Household Goods & Home Construction

JPM upgrades Redrow, downgrades Berkeley

By Michele Maatouk

Date: Tuesday 15 Dec 2020

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove upgraded Redrow and downgraded Berkeley on Tuesday as it took a look at the UK housebuilding sector and became more positive on the outlook.
The bank noted the sector has been a Covid-19 loser this year, underperforming the market by eight percentage points due to lockdown-linked stoppages and continued uncertainty on Brexit, partly offset by government support in the form of a furlough scheme and stamp duty holiday.

"We take an increasingly positive stance on the sector's outlook as the concerns into next year are well flagged and shift the skew of our preference from quality to value as we see an improved risk-reward," it said.

JPM said it continues to view the structural backdrop as positive, supported by an undersupplied market and affordability levels consistent with the long-term average.

"While the quality names outperformed on a year-to-date basis, the value trade since October had its effect within the sector as well," it said. "Heading into 2021, we are now shifting the skew of our recommendations toward value after strong outperformance of the quality names in 2020."

JPM upgraded Redrow to 'overweight' from 'neutral' and lifted the price target to 600p from 520p, saying it sees the stock as the near-term pick for the 'value trade'.

The bank downgraded Berkeley to 'neutral' from 'overweight' and cut the price target to 4,900p from 5,200p. It stuck with 'overweight' rated Persimmon as its 'medium-term pick' and maintained its 'underweight' stance on Crest Nicholson.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Redrow Market Data

Currency UK Pounds
Price 634.40p
Change Today -18.40p
52 Week High 712.00p
52 Week Low 361.20p
Volume 764,440
Shares Issued 352.19m
Market Cap 2,234.30m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
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sector
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Price Trend
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sector
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Income
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sector
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Growth
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sector
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Price Chg 6m
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P/E
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sector
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PEG
market
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  5. empty market
sector
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Dividend Yield
Not Available
EPS Growth
market
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sector
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Operating Margin
market
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sector
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  5. empty sector

What The Brokers Say

Strong Buy 10
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 12
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Redrow Dividends

  Latest Previous
  Interim Interim
Ex-Div 25-Feb-21 n/a
Paid 09-Apr-21 n/a
Amount 6.00p 0.000p

Trades for 18-Jun-2021

Time Volume / Share Price
16:57 150 @ 634.40p
16:47 1,854 @ 634.40p
16:46 150 @ 634.40p
16:35 356,405 @ 634.40p
16:29 403 @ 633.00p

Redrow Key Personnel