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Broker snap: KBC stays 'neutral' on Bellway
Mon, 01 Dec, 2008
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Broker snap: KBC stays 'neutral' on Bellway
Mon, 13 Oct 2008, 11:05:00
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Value
Percent
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Bellway
491.00p
-3.44%
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KBC Peel Hunt has retained its 'neutral' rating on <b>Bellway</b> ahead of the housebuilder's preliminary results tomorrow.<br /><br />The broker expects Bellway to report pre-tax profits of £153m.<br /><br />"Bellway is a solid and broadly reliable business in terms of delivering earnings but its lack of communication and lower profile make it less interesting," KBC Peel analyst Robin Hardy said. <br /><br />"If looking for stocks to follow into any rally, Barratt is the one to follow as it has halved since recent highs and there is undue concern about its revised covenants."<br />
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