Travis Perkins rises after Stifel upgrades to 'buy'

Travis Perkins

04/04/2025 09:24

** Shares of British building materials supplier Travis Perkins TPK.L rise as much as 3.3% at 531p

** Stifel upgrades stock to "buy" from "hold"

** "The shares are at historically low levels with valuation discounting little recovery, and we expect improvement actions to continue and the cycle to turn," says Stifel

** Brokerage adds co's 2025 estimates have been set cautiously and the balance sheet is improving as cash flow improves

** Earlier this week, co flagged challenging start to 2025, blaming high interest rates and uncertainty over the pace of construction market recovery

** Eight of 16 brokerages rate the stock "buy" or "higher", Eight "hold"; with a median PT of $760, according to data compiled by LSEG

** As of last close, shares down ~29.5% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))