Goldman Sachs Downgrades Redrow to Neutral (RDW)
Redrow (LON:RDW) was downgraded by equities researchers at Goldman Sachs to a “neutral” rating in a research report issued on Monday, Stock Ratings Network reports. They currently have a GBX 341 ($5.59) price target on the stock. Goldman Sachs’ target price suggests a potential upside of 6.33% from the company’s current price.
Redrow (LON:RDW) traded down 2.08% during mid-day trading on Monday, hitting GBX 320.70. The stock had a trading volume of 277,847 shares. Redrow has a one year low of GBX 168.50 and a one year high of GBX 339.00. The stock’s 50-day moving average is GBX 321.5 and its 200-day moving average is GBX 269.. The company’s market cap is £1.160 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Redrow from GBX 356 ($5.84) to GBX 383.40 ($6.29) in a research note to investors on Tuesday, February 4th. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Redrow in a research note to investors on Friday, January 31st. They now have a GBX 294 ($4.82) price target on the stock. Finally, analysts at Jefferies Group downgraded shares of Redrow to a “hold” rating in a research note to investors on Friday, January 31st. They now have a GBX 344 ($5.64) price target on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 311.03 ($5.10).
Redrow PLC is a United Kingdom-based company engaged in residential development, which includes mixed use development.
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