Banks

2020: Irish economy stocks primed for performance

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AIB Group OUTPERFORM 23/01/19 Neutral 14/08/18 320c
Applegreen OUTPERFORM 23/07/15 N/A N/A 560c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 493c
Cairn Homes OUTPERFORM 26/08/15 N/A N/A 127c
CPL Resources OUTPERFORM 30/06/09 N/A N/A 770c
Dalata Hotel Group OUTPERFORM 09/09/14 Under Review 03/09/14 529c
FBD Holdings OUTPERFORM 01/09/17 Neutral 29/02/16 834c
Glenveagh Properties OUTPERFORM 10/11/17 N/A N/A 85.9c
Grafton Group OUTPERFORM 15/12/15 Neutral 07/09/15 890p
Greencoat Renewables OUTPERFORM 24/08/17 N/A N/A 121c
Hibernia REIT OUTPERFORM 11/11/14 N/A N/A 142c
IRES REIT OUTPERFORM 08/05/15 N/A N/A 160c
Irish Continental Grp OUTPERFORM 30/08/18 Neutral 19/02/18 480c
permanent tsb Group NEUTRAL 06/03/19 Outperform 01/08/18 107c

DAVY VIEW

The factors that impeded the performance of stocks exposed to the fast-growing Irish economy in 2019 are now largely factored into forecasts. With valuations remaining attractive in absolute and relative terms, the prospects for these stocks in 2020 are positive as the economy continues to fire. We recommend a basket of these names including Glenveagh Properties, Cairn Homes, Dalata Hotel Group, Irish Continental Group, CPL Resources, FBD Holdings and IRES REIT.

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Jan 2 2020, 07:00 GMT

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