JPMorgan Chase & Co. Lowers Bellway (BWY) Price Target to GBX 3,900

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Bellway (LON:BWY) had its target price reduced by equities researchers at JPMorgan Chase & Co. from GBX 4,100 ($53.57) to GBX 3,900 ($50.96) in a report issued on Thursday. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 32.38% from the company’s current price.

BWY has been the topic of a number of other research reports. Redburn Partners restated a “buy” rating on shares of Bellway in a research note on Thursday, January 24th. Bank of America upgraded shares of Bellway to a “neutral” rating and raised their target price for the stock from GBX 2,630 ($34.37) to GBX 3,000 ($39.20) in a research note on Friday, January 11th. Berenberg Bank decreased their target price on shares of Bellway from GBX 3,780 ($49.39) to GBX 3,620 ($47.30) and set a “buy” rating on the stock in a research note on Monday, January 28th. Shore Capital upgraded shares of Bellway to a “buy” rating in a research note on Thursday, December 13th. Finally, UBS Group restated a “buy” rating and set a GBX 3,600 ($47.04) target price (down previously from GBX 3,800 ($49.65)) on shares of Bellway in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 3,620 ($47.30).

LON BWY opened at GBX 2,946 ($38.49) on Thursday. Bellway has a 12 month low of GBX 2,407 ($31.45) and a 12 month high of GBX 3,439 ($44.94). The company has a market cap of $3.62 billion and a price-to-earnings ratio of 6.99.

In other Bellway news, insider Jason Honeyman sold 6,281 shares of the stock in a transaction that occurred on Monday, January 21st. The shares were sold at an average price of GBX 2,932 ($38.31), for a total transaction of £184,158.92 ($240,636.25).

About Bellway

Bellway p.l.c., together with its subsidiaries, engages in the house building business in the United Kingdom. It builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides social housing to housing associations. It owns and controls 37,855 plots of land.

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Analyst Recommendations for Bellway (LON:BWY)

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