You are here

Prices & Quotes - UK Markets - FTSE 250 (MCX)

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.

Value:
Down 22,646.08
Change Today:
-38.76

Selloff in housebuilding sector presents opportunities, says Citi

By Michele Maatouk

Date: Tuesday 26 Oct 2021

LONDON (ShareCast) - (Sharecast News) - The recent selloff in the housebuilding sector presents opportunities with significant growth and yield attractions, Citi said in a note on Tuesday.
The bank noted that inflationary pressures, supply chain challenges and the impact of potential rate hikes have dominated investor concerns recently.

"This despite the sector's resilient operating performance and robust demand trends, outweighing an ambitious medium term growth trajectory with average annualised net asset growth projected at circa +14% per annum for 2022- 23e," it said.

"The current valuation of a P/B of 1.4x for CY22e reflects a discount of over 25% to implied multiples on our estimates and offers investors significant value over the medium term."

Citi said housebuilders with strong medium-term growth targets, namely Barratt, Bellway and Taylor Wimpey remain its preferred picks. It also has buy ratings on Persimmon, Berkeley Group and Redrow.

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

 

Price Data

Price 22,646.08
Change Today -38.76
03-Dec-21 Close 22,646.08

Top Risers

Price Change
Vivo Energy 135.60p +3.2%
AJ Bell 371.00p +2.7%
TBC Bank Group 1,600.00p +2.6%
JPMorgan Japanese Inv Trust 676.00p +2.4%
Coats Group 64.90p +2.4%
Investec 388.30p +2.3%
Baillie Gifford Japan Trust 986.00p +2.3%
Crest Nicholson Holdings 336.80p +2.1%
Baltic Classifieds Group 216.00p +1.9%
Pantheon International 327.00p +1.9%

Top Fallers

Price Change
Wood Group (John) 183.40p -6.4%
Future 3,296.00p -5.6%
Discoverie Group 983.00p -4.6%
Molten Ventures 884.00p -3.4%
Oxford Biomedica 1,260.00p -3.4%
Aston Martin Lagonda Global Holdings 1,368.00p -3.1%
Network International Holdings 270.90p -2.7%
Babcock International Group 295.10p -2.7%
Airtel Africa 123.20p -2.7%
Dechra Pharmaceuticals 4,898.00p -2.6%