Berkeley Group downgraded to Underperform from Outperform at RBC Capital

RBC Capital downgraded Berkeley Group (BKGFY) to Underperform from Outperform with a price target of 3,700 GBp, down from 4,900 GBp. The firm adjusted ratings in the UK housebuilders group as part of a 2026 outlook. With “little support” from the Budget and Royal Assent for the Infrastructure Bill, RBC prefers the “self-help and strategic land stories.”