Professional
Added to YB: 2024-09-05
Pitch date: 2024-08-14
BDEV.L [bullish]
Barratt Redrow plc
-30.04%
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 is also involved in the commercial development business, which includes offices, retail, leisure, industrial, and distribution properties under the Wilson Bowden Developments brand; and land development activities.
Market Cap
GBP 5.7B
Pitch Price
GBP 5.13
Price Target
8.79 (+145%)
Dividend
4.39%
EV/EBITDA
9.45
P/E
30.12
EV/Sales
0.89
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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