3 FTSE Housebuilding Stocks in Focus After JP Morgan Says Sector Has Solid Foundations
by Scarlett S. Stock Market Analyst
Investment banking giant and brokerage firm JP Morgan in its research report has highlighted that the UK’s housebuilding market had solid foundations as the sector is receiving strong support from the government. A report in Thomson Reuters stated that the housebuilding sector outperformed the market on a year-to-date basis.
The report also added that the sector could outperform further owing to the sector’s near-term visibility and demand trends. Moreover, the report had a positive long-term view of the sector due to its earnings momentum for the short term.
The brokerage upgraded housebuilding stock Taylor Wimpey Plc (LON: TW.) from neutral to overweight due to its earnings momentum. It also changed the rating for Barratt Developments (LON: BDEV) from overweight to neutral as the report noted it had limited upside potential due to good performance. It also stated Vistry Group had limited ratings change potential.
It also commented on the upside potential of housebuilding stocks such as Persimmon PLC (LON: PSN) due to efficient management and strong balance sheet and based on strong performance or cost management or other factors, according to Thomson Reuters.
Also Read: 5 Housebuilder Stocks to Keep an Eye on In March
Let us take a closer look at 3 of these high performing FTSE-listed housebuilding stocks in the sector with a YTD return of over 7 per cent:
- Taylor Wimpey (LON: TW.)
Created on Mar 30th 2021 04:57. Viewed 339 times.