Citigroup Forecasts Strong Price Appreciation for Persimmon (LON:PSN) Stock

Persimmon (LON:PSN) had its price objective increased by analysts at Citigroup from GBX 1,613 to GBX 1,615 in a research note issued on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 14.82% from the stock’s previous close.

A number of other research firms also recently weighed in on PSN. Jefferies Financial Group reduced their price target on shares of Persimmon from GBX 1,801 to GBX 1,790 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Peel Hunt reissued a “buy” rating and issued a GBX 1,330 price objective on shares of Persimmon in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, The Goldman Sachs Group began coverage on shares of Persimmon in a report on Monday, November 24th. They set a “buy” rating and a GBX 1,446 price target for the company. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,509.38.

Persimmon Stock Performance

LON:PSN opened at GBX 1,406.50 on Wednesday. Persimmon has a twelve month low of GBX 1,030.50 and a twelve month high of GBX 1,454. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 4.91. The stock’s 50-day simple moving average is GBX 1,317.51 and its 200 day simple moving average is GBX 1,212.14. The firm has a market capitalization of £4.51 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.