Redrow (RDW)

Sector:

Household Goods

Index:

FTSE 250

491.60p
   
  • Change Today:
      1.80p
  • 52 Week High: 718.80p
  • 52 Week Low: 478.17p
  • Currency: UK Pounds
  • Shares Issued: 352.19m
  • Volume: 318,180
  • Market Cap: £1,731.37m
  • RiskGrade: 176

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.

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 delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Redrow Market Data

Currency UK Pounds
Share Price 491.60p
Change Today 1.80p
% Change 0.37 %
52 Week High 718.80p
52 Week Low 478.17p
Volume 318,180
Shares Issued 352.19m
Market Cap £1,731.37m
RiskGrade 176

Redrow Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.82% above the market average93.82% above the market average93.82% above the market average93.82% above the market average93.82% above the market average
84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average
Price Trend
21.05% below the market average21.05% below the market average21.05% below the market average21.05% below the market average21.05% below the market average
28.57% above the sector average28.57% above the sector average28.57% above the sector average28.57% above the sector average28.57% above the sector average
Income
89.63% above the market average89.63% above the market average89.63% above the market average89.63% above the market average89.63% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Growth
70.26% above the market average70.26% above the market average70.26% above the market average70.26% above the market average70.26% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 13
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 14
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 Final
Ex-Div 24-Feb-22 23-Sep-21
Paid 08-Apr-22 17-Nov-21
Amount 10.00p 18.50p

Trades for 01-Jul-2022

Time Volume / Share Price
16:45 8 @ 488.60p
16:45 8 @ 488.60p
16:45 48 @ 488.60p
16:45 48 @ 488.60p
16:35 144,480 @ 491.60p

Top of Page