Professional
Added to YB: 2024-09-05
Pitch date: 2024-08-14
BDEV.L [bullish]
Barratt Redrow plc
-10.47%
current return
Author Info
No bio for this author
Company Info
Barratt Redrow plc engages in the housebuilding business in the United Kingdom. The company acquires and develops land; plans, designs, and constructs homes, apartments, penthouses, and communities, as well as undertakes mixed-use regeneration schemes; and develops retail, leisure, office, industrial, and mixed-use properties.
Market Cap
GBP 5.8B
Pitch Price
GBP 5.29
Price Target
8.79 (+89%)
Dividend
4.25%
Sector
Household Durables
Category
value
Emeth Value Capital Portfolio Holding: Barratt Developments plc
BDEV.L: UK's largest homebuilder, 18% market share. Rational land market, high barriers to entry. 21% avg ROCE over 20 yrs. £2.5B Redrow acquisition expands brand portfolio. Partnerships model provides growth option. Conservative liquidation value £11.4B, 1.67x market cap. Base case 85% upside to £8.79/share.
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