Vistry Group's fair value estimate has been revised down from £3.15 to £2.88 per share, a change of around 9% in the latest model. The revenue growth assumption behind that estimate shifted from 9.01% to 2.66%, while the net profit margin assumption moved from 3.36% to 3.67%, the future P/E multiple changed from 7.82x to 9.51x, and the discount rate adjusted from 10.64% to 11.82%. On the analyst side, UBS initiated coverage of Vistry Group with a Neutral rating and a £3.00 price target, grouping the company with volume builders it sees as having recovery potential, though it flagged a challenging macro backdrop and weak investor sentiment for UK homebuilders. RBC Capital maintained an Underperform rating on Vistry Group even after raising its price target to £2.00 from £1.80, indicating ongoing caution around valuation and risk assumptions.
UBS Group AGUBS initiated coverage of Vistry with a Neutral rating and £3.00 price target, but the article does not discuss UBS Group's own business.
Royal Bank of Canada
Vistry Group PLCFair value estimate cut to £2.88 from £3.15 and RBC's Underperform rating reflect weaker valuation assumptions for Vistry.
