CHARLES HALL PEEL HUNT
While volumes have continued to move higher, aided by help to buy and other measures, the immediate good news was on margins, which are six to 12 months ahead of schedule. Shares have had a great run, but we expect the positive newsflow to continue into 2014 and so stick with our “buy” recommendation.
MARK HUGHES PANMURE GORDON
Persimmon has published a positive trading statement as the first half comes to a close. Volumes have made a stepped improvement thanks to government stimulus and this is helping free cash flow and earnings per share. We are upgrading our forecasts for the years ending 2013, 2014 and 2015.
KEITH BOWMAN HARGREAVES LANSDOWN
Persimmon and the housebuilding industry continue to make progress. Earlier government desires to rebalance the economy now look to have been overtaken by the need to generate growth, even if that growth again potentially builds on previous foundations. For now analyst opinion continues to denote a “buy”.