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Deutsche Bank has upgraded Persimmon PLC (LSE:PSN) to 'buy' from 'hold', arguing that share price weakness has left the housebuilder too cheap despite a run of forecast downgrades. Chris Millington nudged his target price down to 1,403p from 1,419p, still implying about 20% upside from the last close of 1,166.5p.
Persimmon Plc (PSMMY) Q2 2026 Earnings Call Transcript
Persimmon LON: PSN reported higher first-half home completions, revenue and operating profit, while cautioning that build-cost inflation, incentives and a larger proportion of housing association sales continued to weigh on margins.
Persimmon PLC (LSE:PSN) kept its dividend flat as it reported double-digit growth in first-half profits and completions but flagged signs of softer demand in the second half. The FTSE 100 housebuilder posted interim results showing underlying operating profit rose 10% to £189.1 million, although the margin narrowed by 30 basis points to 12.8%.
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