Bellway (LON:BWY) Falls into Favor With Citigroup As They Decide to Upgrade Shares

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Bellway (LON:BWY) Stock Upgrade

In a very recent research note sent to clients and investors on Monday, 14 December, stock analysts at the Citigroup equities research division increased shares of Bellway (LON:BWY) to a respectable Buy rating. They now have a target price per share set at GBX 2980.00 on BWY equating to 11.28% more upside.

From a total of 15 analysts covering Bellway PLC (LON:BWY) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is GBX 3375 while the lowest target price is GBX 1411. The mean of all analyst targets is GBX 2687.43 with a 5.50% above today’s (GBX 2678) stock price. Bellway PLC was the topic of 45 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Beaufort Securities maintained shares on December 14 with “Buy” rating. Liberum Capital maintained shares with “Buy” rating and GBX 2906 target share price in a report from a December 2. Peel Hunt maintained BWY stock in a recent report from December 11 with “Hold” rating. Deutsche Bank maintained the rating on November 30. Deutsche Bank has a “Hold” rating and a GBX 2546 price target on shares. Finally, Numis Securities maintained the stock with “Add” rating in a report issued on a December 10.

The stock increased 0.19% or GBX 5 on December 14, striking GBX 2678. Approximately 506,466 shares of stock traded hands or 73.37% up from the average. Bellway plc (LON:BWY) has risen 19.87% since May 15, 2015 and is uptrending. It has outperformed by 24.28% the S&P500.

 Bellway (LON:BWY) Falls into Favor With Citigroup As They Decide to Upgrade Shares

Bellway p.l.c. is a United Kingdom-based holding company, owning subsidiary undertakings, which is engaged principally in housebuilding in the United Kingdom. The company has a market cap of 3.28 billion GBP. The Firm provides a range of house types, including one, two and three bedroom apartments; terraced homes; three storey homes; semi-detached homes, and three, four and five-bedroom detached homes. It has 11.61 P/E ratio. The Company’s reportable segment is UK housebuilding.

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