MARKET TALK: Panmure Buys UK House Builders On Valuation

13th Jul 2010 09:37

0837 GMT [Dow Jones] Panmure Gordon reviews UK house builders. Says after a period in which the share prices of UK house builders "have been significantly hit, we are turning buyers of all stocks in the sector on valuation grounds." The brokerage upgrades Redrow (RDW.LN) to buy from hold but cuts target to 142p from 150p. Also ups Taylor Wimpey (TW.LN) to buy from hold and cuts target to 33p from 39p. Cuts Bovis Homes (BVS.LN) target to 548p from 555p. Has 180p target on Barratt Developments (BDEV.LN), 868p target on Bellway (BWY.LN) and 555p target on Persimmon (PSN.LN), which remains Panmure's preferred stock in the sector. All have buy ratings. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 13, 2010 04:37 ET (08:37 GMT)