Morgan Stanley downgraded Berkeley Group (BKGFY) to Underweight from Equal Weight with a price target of 2,990 GBp, down from 3,840 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.
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Read More on BKGFY:
- Berkeley Group price target lowered to 4,200 GBp from 5,000 GBp at JPMorgan
- Berkeley Group price target lowered to 4,000 GBp from 4,500 GBp at Berenberg
- Berkeley Group upgraded to Outperform from Sector Perform at RBC Capital
- Berkeley Group upgraded to Sector Perform from Underperform at RBC Capital
- Berkeley Group upgraded to Buy from Neutral at BofA