Ferguson falls marginally after Berenberg downgrades to 'hold'

Ferguson Enterprises

05/06/2025 11:02

** Ferguson Enterprises' FERG.N shares fall slightly to$215 premarket

** Berenberg cuts rating to 'hold' from 'buy', but increases PT to $215 from $200, downside of nearly 1% to stock's last close

** Brokerage expects short-term slowdown in underlying market growth in 2025 due to inflationary and interest-rate pressures

** However, Berenberg notes that co is set to deliver robust medium-term due to internal and external factors

** "We view the U.S. construction market as a favourable end-market for Ferguson in the long term," - Berenberg says

** Brokerage raises 2025 adj. EPS estimate to $8.95 from $8.64

** As of last close, stock up 24.5% YTD

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))