Barclays upgraded Berkeley Group (BKGFY) to Overweight from Equal Weight with a price target of 5,322 GBp, up from 5,065 GBp. The firm has a positive outlook on the UK housebuilding sector for 2025. It sees limited earnings risk and thinks that, following a 25% sell-off of the sector through Q4, fundamental valuation screens as attractive, even if recovery in sector returns is slow.
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