- Sharp rebound in earnings forecast this year and in 2022
- Considerable net cash balance and undrawn debt facilities
- The end of the stamp duty break and help-to-buy restrictions are risks to demand
IC TIP:
Buy
at
619p
Tip style
Growth
Risk rating
High
Timescale
Medium Term
Bull points
Healthy net cash balance
Sharp earnings recovery forecast
Resilient operating margins
Lower reliance on help-to-buy
Bear points
Government support due to fall
Dividend reinstatement unconfirmed