Barratt Developments Upgraded to “Buy” by Bank of America Corp. (BDEV)
Barratt Developments (LON:BDEV) was upgraded by Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Monday, AnalystRatings.Net reports. The firm currently has a GBX 400 ($6.39) price objective on the stock, up from their previous price objective of GBX 365 ($5.83). Bank of America Corp.’s price objective points to a potential upside of 18.80% from the company’s current price.
Shares of Barratt Developments (LON:BDEV) traded up 1.48% on Monday, hitting GBX 336.70. 2,915,135 shares of the company’s stock traded hands. Barratt Developments has a 52 week low of GBX 176.70 and a 52 week high of GBX 359.80. The stock has a 50-day moving average of GBX 322.7 and a 200-day moving average of GBX 308.. The company’s market cap is £3.285 billion.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. upgraded shares of Barratt Developments to a “buy” rating in a research note to investors on Wednesday, October 9th. They now have a GBX 371 ($5.92) price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Barratt Developments in a research note to investors on Friday, October 4th. They now have a GBX 435 ($6.94) price target on the stock. Finally, analysts at Panmure Gordon raised their price target on shares of Barratt Developments from GBX 340 ($5.43) to GBX 352 ($5.62) in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of GBX 367.45 ($5.87).
Barratt Developments PLC is a holding company. The Company’s principal activities consists of acquiring and developing land, planning, designing and constructing residential property developments and selling the homes it builds.
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