Barratt Redrow downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Peter Ajose-Adeogun downgraded Barratt Redrow (BTDPY) to Equal Weight from Overweight with a price target of 300 GBp, down from 430 GBp. The firm has turned more cautious on the UK housebuilders risk citing rising macro risk, fading rate support and re-merging cost uncertainty. “Valuations are cheap, but catalysts are scarce,” the analyst tells investors in a research note.