Charlie Campbell, an analyst from Stifel Nicolaus, maintained the Buy rating on Barratt Developments (BTRW – Research Report). The associated price target is p520.00.
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Charlie Campbell has given his Buy rating due to a combination of factors that indicate a positive outlook for Barratt Developments. The company has reported a sales rate that is slightly ahead of the previous year, demonstrating resilience in a challenging market. This performance is supported by an improving mortgage availability landscape, which is expected to facilitate better sales conditions moving forward.
Additionally, Barratt Developments is poised for growth with a planned 10% increase in outlets, which should enhance its market position. The company is also benefiting from synergies following the Redrow merger, which is expected to accelerate return recovery. Furthermore, the cost inflation outlook for FY26 is favorable, with only a 1-2% increase anticipated, providing a stable financial environment. These factors, coupled with an attractive valuation relative to the sector, underpin Campbell’s Buy recommendation.