Analyst Cedar Ekblom of Morgan Stanley maintained a Buy rating on Breedon, retaining the price target of p493.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Cedar Ekblom’s rating is based on several key considerations. Despite facing some market challenges, Breedon Group is expected to benefit from a robust pipeline of infrastructure projects in the UK and Ireland, which should support its mid-term growth prospects. Additionally, the company anticipates a recovery in the US residential market, which could further bolster its performance.
Although Breedon has revised its EBITDA guidance downwards, the company’s long-term outlook remains positive. The anticipated range of £275m to £280m for underlying EBITDA reflects a modest decrease, yet Breedon remains well-positioned to capitalize on future opportunities. These factors contribute to Ekblom’s Buy rating for Breedon’s stock, suggesting confidence in the company’s ability to navigate current challenges and achieve growth.
In another report released on November 7, RBC Capital also reiterated a Buy rating on the stock with a p525.00 price target.