Persimmon’s (PSN) Buy Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Persimmon (LON:PSN) in a research note released on Wednesday morning. Canaccord Genuity currently has a GBX 2,870 ($37.50) price objective on the stock.

Other analysts also recently issued research reports about the company. Liberum Capital reissued a buy rating on shares of Persimmon in a report on Tuesday, August 21st. Deutsche Bank cut their price target on Persimmon from GBX 3,093 ($40.42) to GBX 3,053 ($39.89) and set a hold rating on the stock in a report on Thursday, August 30th. Peel Hunt raised their price target on Persimmon from GBX 2,775 ($36.26) to GBX 2,790 ($36.46) and gave the stock a hold rating in a report on Wednesday, August 29th. Berenberg Bank reissued a hold rating and issued a GBX 2,760 ($36.06) price target on shares of Persimmon in a report on Wednesday, August 22nd. Finally, Shore Capital raised Persimmon to a hold rating and cut their price target for the stock from GBX 2,690 ($35.15) to GBX 2,295 ($29.99) in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of GBX 2,776.17 ($36.28).

Shares of LON PSN traded down GBX 11 ($0.14) during mid-day trading on Wednesday, hitting GBX 2,386 ($31.18). The company had a trading volume of 1,291,216 shares, compared to its average volume of 1,520,000. Persimmon has a 12 month low of GBX 2,046 ($26.73) and a 12 month high of GBX 2,901 ($37.91).

In other Persimmon news, insider Roger Devlin bought 12,575 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were purchased at an average cost of GBX 2,217 ($28.97) per share, for a total transaction of £278,787.75 ($364,285.57).

About Persimmon

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers apartments and family homes under the Persimmon Homes brand name; builds executive housing under the Charles Church brand; and operates off-site manufacturing plant. It also provides homes to housing associations under the Westbury Partnerships brand.

Further Reading: How to calculate the intrinsic value of a stock

Analyst Recommendations for Persimmon (LON:PSN)

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