On Tuesday, RBC Capital adjusted its outlook on Vistry Group PLC (VTY:LN), reducing the price target from GBP5.00 to GBP4.50 while retaining an Underperform rating on the stock. The revision follows an unexpected trading update released by the home construction company on Christmas Eve.
The analyst from RBC Capital cited the need to revise estimates as the primary reason for the price target adjustment. This year has been challenging for Vistry, with the analyst noting that it has been "a year to forget" for the company. However, there is an expectation among investors that the lessons learned in 2024 will be applied in the upcoming year to improve performance.
The new price target reflects a decrease from 500 pence to 450 pence. Despite the change, the firm's stance on the stock remains unchanged, suggesting continued caution regarding Vistry's near-term prospects.
Vistry Group has not publicly responded to the revised price target and rating. The company's shareholders and potential investors are now left to consider RBC Capital's updated analysis as they make their investment decisions for the future.
The adjustment in Vistry Group's price target is one of the financial market movements that investors will be monitoring as the holiday season approaches its peak and the year draws to a close.
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