Analysts at Deutsche Bank have set a new target share price of 237GBX whilst also issuing a reiteration of ‘buy’ as their recommendation for the stock.
New Share price indicates huge gains in current share value
Taylor Wimpey PLC (LON:PW) is currently trading at 169.00 GBX -2.85 (0.50%) BST 10.22, which is less than 1% higher than their 52-week low of 165.95. Additionally, Taylor’s share price has dropped by 19.9 points over the last 12 months.Deutsche bank’s new share price of 237 GBX indicates a rise of almost double their current value.
Future uncertain following Barclays leasehold woes
The increased share price follows the news that Barclays Plc refused to issue mortgages for properties on two of Taylor Wimpey’s flagship London development sites, citing complicated leases which could leave them out of pocket as the reason. In a comment made to The Financial Times, a Taylor Wimpey spokesperson said they would be resolving the issues and removing the offending clause “any issues which may have the potential to impact the saleability or mortgageability of our customers’ homes extremely seriously.”
In May, Taylor Wimpey’s price jumped following after the company announced plans for increased dividend payments to shareholders. Strategy plans and new goals for the next five years were also announced. At the time, analysts offered price targets as a median of 220.00p on the shares.