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Investing.com - RBC Capital has raised its price target on Barratt Redrow PLC (LON:BTRW) (OTC:BTDPY) to GBP5.75 from GBP5.50 while maintaining an Outperform rating.
The homebuilder reiterated its fiscal year 2026 guidance, though with caution regarding the demand environment due to consumer uncertainty ahead of the Budget and expectations for flat sales prices.
RBC Capital noted that management’s tone during the earnings call appeared more positive than in the written statement, with executives expressing confidence in their visibility on site openings and land bank margin.
The investment firm highlighted that Barratt Redrow has a differentiated strategy and maintains a positive outlook on the company’s medium-term approach despite expectations for a sluggish housing environment in the near term.
The price target increase reflects RBC’s valuation shift from fiscal years 2025/2026 to 2026/2027 as its base calculation period.
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