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Research ratings and price targets

Disclosures

The following table lists current ratings and price targets with respective dates for companies covered by Davy Research. Where a rating or price target has been updated in the previous 12 months, we also show the previous and its date of issue.

We indicate where a rating is currently 'under review', 'suspended' or 'restricted'. An explanation of our ratings is provided below. 

Investment ratings

Davy ratings are indicators of the expected performance of the stock relative to its sector index (FTSE E300) over the next 12 months. At times, the performance might fall outside the general ranges stated below due to near-term events, market conditions, stock volatility or - in some cases - company-specific issues. Research reports and ratings should not be relied upon as individual investment advice. As always, an investor's decision to buy or sell a security must depend on individual circumstances, including existing holdings, time horizons and risk tolerance.

  • Outperform: Outperforms the relevant E300 sector by 10% or more over the next 12 months.
  • Neutral: Performs in-line with the relevant E300 sector (+/-10%) over the next 12 months.
  • Underperform: Underperforms the relevant E300 sector by 10% or more over the next 12 months.
  • Under Review: Rating is actively under review.
  • Suspended: Rating is suspended until further notice.
  • Restricted: Davy is currently unable to provide a rating for this security. This is due to market events, corporate change or other circumstances.

     

The ratings table also indicates if Davy has provided certain material investment banking services to any company under coverage in the past 12 months. The term 'material investment banking services' includes Davy acting as broker as well as the provision of corporate finance services, such as underwriting and managing or advising on a public offer.

The list of individual ratings is updated each Monday, except for public holidays, when it is updated on the following Tuesday.

Also provided is a summary of our ratings for all companies under research coverage, including those companies under coverage to which Davy has provided material investment banking services in the previous 12 months. This summary is updated on a quarterly basis.

Please note that the table of individual stocks below is updated on an ongoing basis, while the quarterly summary table is updated at the end of each quarter.

Please click here for other important disclosures.

If you require further information, please contact researchoperations@davy.ie.

Material Investment Banking Services/Past 12 Months

Rating Count Percent Count (past 12 months) Percent (past 12 months)
Outperform 56 69 25 96
Neutral 22 27 0 0
Underperform 2 3 0 0
Under Review 0 0 1 4
Suspended 0 0 0 0
Restricted 1 1 0 0

 

Research ratings and price targets

STOCK ANALYST(S) RATINGS* DATE
OF ISSUE
HISTORIC MARKET
PRICE**
PRICE TARGET* DATE
OF ISSUE
AG Barr Gary Martin Outperform 19/09/24 688p 815p 06/06/25
          770p 19/09/24
AIB Group Diarmaid Sheridan Outperform 23/01/19 699c 740c 18/03/25
          650c 19/02/25
          610c 07/10/24
          620c 25/07/24
Air France KLM Stephen Furlong/Ava Costello Outperform 17/05/23 925c 1200c 16/01/25
Associated British Foods Gary Martin/Cathal Kenny Outperform 05/07/11 2058p 2500p 07/05/25
Bank of Ireland Diarmaid Sheridan Outperform 11/03/13 1209c 1490c 28/02/25
          1410c 07/10/24
Barratt Redrow Colin Sheridan  Outperform 25/06/20 456p 560p 08/03/24
Bellway Colin Sheridan  Outperform 24/03/14 2884p 3487p 28/08/24
Berkeley Group Colin Sheridan  Underperform 10/09/13 3860p 3995p 24/06/20
Breedon Group Ross Harvey Neutral 05/06/25 386p 500p 05/06/25
Buzzi Unicem Ross Harvey Outperform 04/04/16 4706c 2600c 30/03/21
C&C Cathal Kenny Outperform 30/06/09 163p 300p 20/10/22
Cairn Homes Colin Sheridan Outperform 26/08/15 215c 207c 29/04/24
Cranswick Gary Martin/Cathal Kenny Outperform 09/11/16 5350p 6100p 15/04/25
          5600c 03/10/24
CRH Ross Harvey Outperform 23/05/12 9180USc / 
6712p
11000USc /
8600p
30/05/24
CVS Group Colin Grant Outperform 09/03/21 1250p 1600p 13/03/24
Dalata Hotel Group Paul Ruddy Restricted 06/03/25 645c    
Danone Gary Martin/Cathal Kenny Outperform 06/03/25 6936c 7750c 06/03/25
          7200c 24/10/24
Datalex Ava Costello/Stephen Furlong Neutral 31/05/23 32c 40c 28/03/23
DCC Colin Grant Outperform 30/06/09 4728p 9000p 18/05/21
Diploma plc Colin Grant Outperform 06/09/24 4888p 5000p 06/09/24
Dole Gary Martin/Cathal Kenny Outperform 24/08/21 1399USc 1900USc 22/08/24
DraftKings Paul Ruddy Neutral 23/03/21 4289USc 3950USc 28/02/24
dsm-firmenich Cathal Kenny Outperform 09/10/20 9026c 11500c 19/06/25
easyJet Ava Costello/Stephen Furlong Neutral 16/01/25 532p 580p 16/01/25
Entain Paul Ruddy Neutral 13/12/17 901p 763p 21/12/23
FBD Holdings Diarmaid Sheridan Outperform 01/09/17 1390c 1560c 16/05/25
          1490c 04/12/24
Flutter Entertainment plc Paul Ruddy Outperform 08/05/19 28576USc 33400USc 17/12/24
Forterra plc Flor O'Donoghue Neutral 19/08/16 197p 192p 17/01/25
Genuit Group Flor O'Donoghue Neutral 05/11/21 394p 427p 17/01/25
Givaudan Cathal Kenny Neutral 31/01/24 384100chf 429000chf 19/06/25
Glanbia Cathal Kenny Outperform 30/06/09 1250c 2060c 06/03/24
Glenveagh Properties Colin Sheridan Outperform 10/11/17 172c 212c 17/04/25
Grafton Group Flor O'Donoghue Outperform 07/10/20 1022p 1200p 22/03/24
Greencoat Renewables Ross Harvey Outperform 24/08/17 76.8c 110c 13/05/24
Greencoat UK Wind Ross Harvey Outperform 09/05/23 121p 175p 31/07/24
Greencore Group Gary Martin/Cathal Kenny Outperform 04/04/24 234p 290p 10/06/25
          265p 11/02/25
          250p 23/10/24
Harworth Group Colin Sheridan Outperform 19/11/21 180p 252p 19/09/24
Heidelberg Materials Ross Harvey Underperform 30/05/24 19945c 9100c 30/05/24
Hill & Smith Colin Grant Neutral 09/06/25 1792p 1800p 09/06/25
Holcim Ross Harvey Neutral 14/01/22 5890chf 9200chf 30/05/24
Hostelworld Paul Ruddy Outperform 15/12/15 137p 130p 14/05/25
          156p 28/11/24
Howden Joinery Flor O'Donoghue Outperform 31/03/22 856p 915p 17/01/25
hVIVO Colin Grant Outperform 11/10/23 11p 29.0p 11/10/23
IAG Stephen Furlong/Ava Costello Neutral 17/01/24 341p 350p 06/03/25
Ibstock plc Flor O'Donoghue Neutral 30/06/25 146p 167p 30/06/25
IMI plc Colin Grant Outperform 29/02/24 2094p 2500p 29/02/24
          4500USc 08/07/24
IRES REIT Colin Grant Outperform 08/05/15 102c 160c 03/05/23
Irish Continental Group Stephen Furlong/Ava Costello Outperform 30/08/18 550c 700c 11/05/23
ITM Power Ross Harvey Outperform 23/02/21 79.6p 850p 10/09/24
Jet2 plc Ava Costello/Stephen Furlong Outperform 05/06/24 1845p 2200p 16/01/25
Kenmare Colin Grant Outperform 03/10/16 328p 850p 19/06/23
Kerry Group Cathal Kenny Outperform 30/06/09 9375c 11000c 23/01/25
Kingspan Group Flor O'Donoghue Outperform 12/05/11 7220c 9700c 14/03/25
Lufthansa Stephen Furlong/Ava Costello Outperform 24/01/22 718p 1200p 17/05/23
Malin Corporation Colin Grant Outperform 29/09/15 800c 1550c 15/03/18
Marshalls Flor O'Donoghue Neutral 10/11/21 269p 365p 10/12/24
Mincon Group Colin Sheridan Outperform 14/02/14 37.2c 73c 08/08/24
Mondi Ross Harvey Outperform 08/05/24 1190p 1500p 18/10/24
          1800p 16/07/24
Norwegian Air Stephen Furlong/Ava Costello Neutral 01/09/15 1460nok 1300nok 17/01/24
On the Beach Ava Costello/Stephen Furlong Outperform 03/07/25 295p 330p 03/07/25
Origin Enterprises Cathal Kenny Outperform 30/06/09 370c 460c 21/10/22
Permanent tsb Group Diarmaid Sheridan Outperform 04/02/21 204c 300c 07/10/24
          290c 25/07/24
Persimmon Colin Sheridan Neutral 17/08/20 1296p 1681p 28/08/24
Ryanair Holdings Stephen Furlong/Ava Costello Outperform 07/12/09 2402c 2400c 12/09/23
Saint-Gobain Group Ross Harvey/Flor O'Donoghue Outperform 29/01/21 9964c 7200c 06/08/21
SigmaRoc Ross Harvey Outperform 18/09/24 108p 105p 18/09/24
Smurfit Westrock Ross Harvey Outperform 08/07/24 4315USc 6300USc 05/11/24
          6000USc 09/08/24
          6500USc 08/07/24
Spectris Colin Grant Neutral 13/11/24 3838p 2650p 13/11/24
    Underperform 04/07/24   2775p 01/10/24
          3070p 04/07/24
Stelrad Flor O'Donoghue Outperform 11/05/23 162p 190p 22/01/24
Symrise Cathal Kenny Outperform 24/03/20 8914c 11745c 22/05/24
Taylor Wimpey Colin Sheridan  Outperform 10/09/13 119p 172p 28/08/24
Travis Perkins Flor O'Donoghue Neutral 28/05/20 608p 685p 08/04/25
          865p 17/01/25
Treatt Cathal Kenny Neutral 08/04/21 260p 554p 31/01/24
TRIG Ross Harvey Neutral 09/05/23 88p 135p 05/03/24
Uniphar Colin Grant Outperform 27/08/19 375c 500c 14/01/22
    Neutral 17/09/24   3800c 16/07/24
Vistry Group Colin Sheridan Neutral 24/12/24 638p 773p 24/12/24
          1540p 20/08/24
Volution Flor O'Donoghue Neutral 23/10/24 591p 632p 20/03/25
          615p 23/10/24
Watkin Jones Colin Sheridan Outperform 26/03/21 28.1p 103p 21/07/23
Weir Group plc Colin Grant Outperform 26/01/24 2490p 2200p 26/01/24
Wizz Air Holdings Stephen Furlong/Ava Costello Neutral 17/01/24 1090p 1500p 16/01/25
XPS Pension Services Thomas Ryan Outperform 07/01/25 384p 420p 07/01/25

 

* The validity period for all ratings and price targets is 12 months.

** Market price as of close  June 30th 2025.

Last updated: July 3rd 2025