Persimmon downgraded to Underperform from Sector Perform at RBC Capital

RBC Capital analyst Anthony Codling downgraded Persimmon (PSMMY) to Underperform from Sector Perform with a price target of 1,275 GBp, down from 1,475 GBp. Persimmon’s Q3 commentary on build costs and building regulation planning changes indicate the embedded margins in its landbank may be at risk of downgrades come the full-year results, the analyst tells investors in a research note.