Analyst Arnaud Lehmann from Bank of America Securities reiterated a Buy rating on Ferguson PLC and keeping the price target at p21,000.00.
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Arnaud Lehmann has given his Buy rating due to a combination of factors, beginning with Ferguson’s strong recent performance and robust financial profile. The company beat expectations in Q4 with double‑digit operating profit growth, resilient margins, and healthy free cash flow that kept leverage low, while guidance for 2026, though tempered by softness in residential and HVAC, still points to stable profitability supported by non‑residential strength.
He also emphasizes Ferguson’s attractive medium‑term growth framework, underpinned by structural demand from large capital projects, water infrastructure, climate and comfort solutions, and ageing housing stock, which together support a plan for mid‑single to low‑double‑digit annual sales growth and rising trading profit. With estimates broadly intact, solid execution, strong cash generation and flexible capital allocation, he views the current valuation multiples as justified and maintains a 21,000 GBp price objective alongside his Buy recommendation.
According to TipRanks, Lehmann is ranked #1962 out of 12078 analysts.
In another report released today, Barclays also maintained a Buy rating on the stock with a $295.00 price target.