nice starting point..

Deutsche Bank Buy 320.00 320.00 365.00 365.00 Reiterate

Who is at TOP today? .... PSN with 5.54%

BDEV Barratt Deve... 328.00 +8.00 +2.50%

BVS Bovis Homes ... 749.50 +32.50 +4.53%

BWY Bellway 1,339.25 +19.25 +1.46%

BWYA Bellway 103.75 +1.25 +1.22%

CRST Crest Nichol... 348.00 +4.50 +1.31%

PSN Persimmon 1,193.64 +62.64 +5.54%

RDW Redrow 242.34 +5.28 +2.24%

TW. Taylor Wimpey 108.10 +4.30 +4.14%

11 Oct: Deutsche reiterates: Buy - TP raised to 391p.

BDEV ex-divi wed 23rd Oct (2.5p)

14 Oct: Bank of America: Buy and TP upgrade from 365p to 400p.

21 Oct: Deutsche reiterates: Buy - TP held at 391p.

22 Oct: Panmure Gordon reiterates: Buy - TP down from
381p to 352p.

xd tomorrow.

best of the lot is arguably NMX3720 :-)

Interim Management Statement

Strong performance; private forward sales up 47%

Highlights

· Significant improvement in sales rates across all six of our operating regions

· Net private reservations per active site per week of 0.71 (2012: 0.54), up 31.5% on the prior year

· Continue to see a year on year improvement in net pricing of 150 to 200 basis points, largely reflecting a reduction in the level of incentives offered

· Private forward sales of £1,127.4m, up 46.7% on the prior year (2012: £768.5m)

· Continue to secure excellent land opportunities that at least meet our minimum hurdle rates, with 8,150 plots (2012: 3,685 plots) approved in the period

Nov 13: TP raised by a penny by Panmure Gordon.
Reiterates Buy - TP: 382p.

Nov 20: Barclays (new coverage) Equal-weight - TP: 444.70p

They've been out in force this morning on the builders :-


TW. Barclays Capital Overweight 107.70 107.00 - 146.80 Initiates/Starts
RDW Barclays Capital Overweight 268.70 268.60 - 356.00 Initiates/Starts
PSN Barclays Capital Equal weight 1,194.00 1,185.00 - 1,260.40 Initiates/Starts
GFRD Barclays Capital Equal weight 1,093.50 1,087.00 - 1,200.10 Initiates/Starts
CRST Barclays Capital Overweight 358.80 361.50 390.00 422.80 Reiterates
BVS Barclays Capital Underweight 775.00 767.00 - 778.10 Initiates/Starts
BKG Barclays Capital Equal weight 2,299.00 2,291.00 - 2,454.70 Initiates/Starts
BWY Barclays Capital Underweight 1,423.00 1,425.00 - 1,498.10 Initiates/Starts
BDEV Barclays Capital Overweight 327.05 321.10 - 444.70 Initiates/Starts

Sudden fall of 30+ points.

Carney I guess?

All housebuilders down:

http://www.bbc.co.uk/news/business-25124058

Deutsche Bank Buy 329.90 329.90 394.00 - Reiterates

@ 329.14 sold short, technical play...

2 Dec:
Citigroup upgrades: Buy - TP upped from 345p to 390p

Deutsche reiterates Buy - TP held at 394p

The best returns are probably behind the housebuilders but government support should bring income for years to come, says Questor
Housebuilding sector: HOLD
= House price party over? =
Is the party over for shares in housebuilders after the Bank of England said it would stop a key funding scheme? The news that the Bank of England would remove the Funding for Lending Scheme (FLS) to boost household borrowing and instead focus the programme on small businesses sent shares in the sector sharply lower. After the announcement, shares in Persimmon (Frankfurt: OHP.F - news) and Taylor Wimpey closed the week down more than 6pc. However, fears that this is the first step to curtailing Help to Buy look misplaced. In fact, analysts believe this is a buying opportunity.
= The punch bowl remains =
The main driving force behind housebuilders’ shares during the past 12 months has been the success of Help to Buy. Analysts at Liberum Capital think the scheme is not under threat. Mark Carney, Governor of the Bank of England, when talking about the recent FLS changes, said: “These changes have no implications for HM Government’s Help to Buy scheme.” So far there have been no changes made to the Government’s housing support measures and mortgage approval rates reached a near six-year high in October as the scheme takes hold.
= Structural support =
The backdrop of the housing market still supports further share price growth. There remains a shortage of housing in the UK, with demand about twice the current levels of supply. Help to Buy is providing significant support to first-time buyers, which is allowing those already on the housing ladder to move up. Having cut costs during the recession, the housebuilders are now reporting improved margins and profitability. As order books fill up, this supports sales growth. Persimmon recently said sales activity was up a fifth on levels last year.
= Income on offer=
With the Government’s key housing price support measure still in place, sales for next year well backed up by record order books and profit margins returning to pre-crisis levels, the housebuilders’ pre-tax profit outlook is good. The sector is also not looking expensive, trading on an average of 11.5 times forecast earnings. While the best of the gains are probably behind the sector, there are still chunky yields on offer through returns of capital. Persimmon and Taylor Wimpey should both yield more than 6pc over coming years. Hold for income

George Osborne says Aldermore and Virgin to join Help to Buy mortgage scheme

Short closed, small profit.