Investment Column: Taylor builds on housing market stability - Sharewatch, Business - The Independent
Taylor Wimpey's share price enjoyed some steady gains yesterday after the house-builder became the latest company to highlight stability in the housing market.
Looking ahead, the group said it continued to expect the market to remain "relatively stable" over the remainder of the year, "despite the ongoing economic uncertainty and restricted mortgage availability".
In response, Panmure Gordon reiterated its "buy" recommendation, citing the fact the stock was trading well below its full year net asset value (NAV) forecast of 59p. The broker did, however, note that "Taylor Wimpey does have a little bit more gearing than its peer group and the business carries a little most risk... and there we believe that it should trade at some sort of discount to the sector".
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