Citi has renewed its buy rating on housebuilder Bellway PLC (LSE:BWY), citing its “good foundation for growth”.
The group “remains well positioned to benefit from a housing market recovery with the ambition to drive significant volume growth over the (medium term), underpinned by a well-invested landbank and healthy balance sheet”, said Citi analysts.
Bellway is estimated to achieve a compound annual growth rate (CAGR) of around 35% in earnings from fiscal year 2025 to 2027, said Citi.
The stock was given a 3,368p price target against a 3,012p share price as of Thursday afternoon.