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Feb 19 2020, 06:45 GMT
Ratings and price correct at time of issue
Company | Rating | Date | Previous Rating | Date | Closing Price |
---|---|---|---|---|---|
Ferguson | NEUTRAL | 10/11/17 | N/A | N/A | 7598.0p |
Grafton Group | OUTPERFORM | 15/12/15 | Neutral | 07/09/15 | 990p |
Howden Joinery | NEUTRAL | 26/09/19 | Outperform | 29/01/15 | 733p |
Kingfisher | NEUTRAL | 20/08/18 | Outperform | 02/10/17 | 222p |
SIG plc | NEUTRAL | 01/07/16 | Outperform | 15/12/15 | 89.8p |
Travis Perkins plc | UNDERPERFORM | 01/07/16 | Neutral | 20/10/14 | 1720p |
Upcoming results from the leading UK building distribution businesses should confirm expectations; it will be outlook commentary that will really grab attention. There has been a discernible uptick in UK housing-related sentiment indicators following the general election. This potentially leaves current 2020 consensus expectations undercooked, although it may take time to filter through to actual estimates. Above-average forward valuation multiples arguably already anticipate this, particularly in the case of Howdens, and are likely to limit further near-term upside.
Feb 19 2020, 06:45 GMT