MARKET TALK: Credit Suisse Adjusts Ratings On UK Housing Stocks

5th Jul 2010 07:58

0658 GMT [Dow Jones] Credit Suisse adjusts ratings on UK housing stocks in its latest sector note. Brokerage believes buying opportunities remain within the sector, "despite downward revisions to our price and volume forecasts for 2011 and a significant change to our valuation methodology that materially reduces our average target prices." Credit Suisse maintains outperform ratings on Barratt Developments (BDEV.LN) with target price cut to 126p from 252p, Bellway (BWY.LN) with target cut to 737p from 1256p, Taylor Wimpey (TW.LN) with target cut to 36p from 65p and Persimmon (PSN.LN) with target cut to 392p from 678p. Upgrades Berkeley (BKG.LN) to outperform but cuts target to 907p from 920p. However, downgrades Bovis Homes Group (BVS.LN) to neutral from outperform and cuts target to 315p from 780p and downgrades Redrow (RDW.LN) to underperform from outperform and cuts target to 95p from 212p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 05, 2010 02:58 ET (06:58 GMT)