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Research ratings and price targets

The following table lists current ratings and price targets with respective dates for companies covered by Davy Research. Where a rating or price target has been updated in the previous 12 months, we also show the previous and its date of issue.

We indicate where a rating is currently 'under review', 'suspended' or 'restricted'. An explanation of our ratings is provided below. 

Investment ratings

Davy ratings are indicators of the expected performance of the stock relative to its sector index (FTSE E300) over the next 12 months. At times, the performance might fall outside the general ranges stated below due to near-term events, market conditions, stock volatility or - in some cases - company-specific issues. Research reports and ratings should not be relied upon as individual investment advice. As always, an investor's decision to buy or sell a security must depend on individual circumstances, including existing holdings, time horizons and risk tolerance.

  • Outperform: Outperforms the relevant E300 sector by 10% or more over the next 12 months.
  • Neutral: Performs in-line with the relevant E300 sector (+/-10%) over the next 12 months.
  • Underperform: Underperforms the relevant E300 sector by 10% or more over the next 12 months.
  • Under Review: Rating is actively under review.
  • Suspended: Rating is suspended until further notice.
  • Restricted: Davy is currently unable to provide a rating for this security. This is due to market events, corporate change or other circumstances.

     

The ratings table also indicates if Davy has provided certain material investment banking services to any company under coverage in the past 12 months. The term 'material investment banking services' includes Davy acting as broker as well as the provision of corporate finance services, such as underwriting and managing or advising on a public offer.

The list of individual ratings is updated each Monday, except for public holidays, when it is updated on the following Tuesday.

Also provided is a summary of our ratings for all companies under research coverage, including those companies under coverage to which Davy has provided material investment banking services in the previous 12 months. This summary is updated on a quarterly basis.

Please note that the table of individual stocks below is updated on an ongoing basis, while the quarterly summary table is updated at the end of each quarter.

Please click here for other important disclosures.

If you require further information, please contact researchoperations@davy.ie.

Material investment banking services/past 12 months

Rating Count Percent Count (past 12 months) Percent (past 12 months)
Outperform 76 65 25 93
Neutral 38 33 2 7
Underperform 1 1 0 0
Under Review 0 0 0 0
Suspended 0 0 0 0
Restricted 1 1 0 0

 

Research ratings and price targets

STOCK ANALYST(S) RATINGS* DATE
OF ISSUE
HISTORIC MARKET
PRICE**
PRICE TARGET** DATE
OF ISSUE
AerCap Ross Harvey Outperform 27/06/17 5623USc 7600USc 31/03/21
AIB Group Diarmaid Sheridan/Antonio Duarte Outperform 23/01/19 374c 463c 20/03/23
Air France KLM Stephen Furlong/Eleanor Walsh Outperfrom 17/05/23 1520c 230c 17/05/23
    Neutral 12/01/23 170c 130c 12/01/23
AO World Plc David Reynolds/Alex Short Neutral 22/09/21 65p 50p 09/08/22
ARYZTA Gary Martin Neutral 30/11/18 155chf 98chf 20/10/22
ASOS Plc David Reynolds/James Musker Neutral 29/09/21 821p 1140p 09/08/22
Associated British Foods Gary Martin/Cathal Kenny Outperform 05/07/11 1940p 1600p 21/10/22
Auto Trader Group David Reynolds/James Musker Neutral 24/01/22 616p 470p 06/07/22
Auto1 Group David Reynolds/Alex Short Neutral 09/02/22 652p 1400p 06/07/22
Baltic Classifieds Group David Reynolds/James Musker Neutral 09/08/22 155p 100p 09/08/22
Bank of Ireland Diarmaid Sheridan/Antonio Duarte Outperform 11/03/13 932c 1334c 20/03/23
Barratt Developments Colin Sheridan  Outperform 25/06/20 467p 753p 05/02/21
Barryroe Offshore Energy Colin Grant/Hammad Anwar Outperform 09/06/11 2p 22p 04/10/17
Bellway Colin Sheridan  Outperform 24/03/14 2207p 2926p 01/09/20
Berkeley Group Colin Sheridan  Underperform 10/09/13 4197p 3995p 24/06/20
boohoo group plc David Reynolds/James Musker Outperform 22/09/21 60p 125p 09/08/22
Breedon Group Ross Harvey Outperform 22/11/19 77p 120p 27/07/21
Buzzi Unicem Ross Harvey Outperform 04/04/16 2236c 2600c 30/03/21
C&C Cathal Kenny Outperform 07/01/15 157p 300p 20/10/22
Cairn Homes Colin Sheridan Outperform 20/04/16 102c 174c 14/03/23
Carvana David Reynolds/Alex Short Neutral 09/02/22 979USc 3600USc 06/07/22
Cazoo David Reynolds/James Musker Neutral 08/09/21 249USc 167USc 06/07/22
Corbion Cathal Kenny Neutral 29/04/11 3024c 2760c 20/10/22
Corre Energy Colin Grant/Hammad Anwar Outperform 21/10/21 330c 320c 07/10/22
Cranswick Gary Martin/Cathal Kenny Outperform 09/11/16 3004p 2350p 09/11/16
CRH Ross Harvey Outperform 23/05/12 4648c 6100c 03/05/23
CVS Group Colin Grant/Hammad Anwar Outperform 09/03/21 1855p 2700p 23/09/21
Dalata Hotel Group Paul Ruddy Outperform 09/09/14 419c 625c 26/04/23
          580c 17/02/23
Danone Cathal Kenny Neutral 15/10/21 5731c 5680c 20/10/22
Darktrace David Reynolds/Alex Short Neutral 11/08/22 258p 250p 03/02/23
Datalex David Reynolds/Ross Harvey Outperform 08/06/22 52c 40c 28/03/23
DCC Colin Grant/Hammad Anwar Outperform 30/06/09 4718p 9000p 18/05/21
Deliveroo plc David Reynolds/Alex Short Outperform 18/01/22 92p 125p 20/03/23
Delivery Hero David Reynolds/Alex Short Outperform 18/01/22 3137c 6000c 06/07/22
Dole Gary Martin/Cathal Kenny Outperform 24/08/21 1174USc 1446USc 15/03/23
DoorDash Inc David Reynolds/Alex Short Neutral 18/01/22 6356USc 5000USc 06/07/22
DraftKings Paul Ruddy Neutral 23/03/21 1936USc 2250USc 18/10/22
DSM-Firmenich Cathal Kenny Outperform 09/10/20 10870c 13470c 28/03/23
DS Smith Justin Jordan Outperform 23/01/23 315p 375p 03/04/23
easyJet Stephen Furlong/Eleanor Walsh Outperform 24/01/22 518p 600p 17/05/23
          500p 12/01/23
ENGAGE XR  David Reynolds Outperform 07/12/18 3p 10p 24/01/20
Entain Paul Ruddy Neutral 13/12/17 1257p 1650p 18/10/22
Ergomed Colin Grant/Hammad Anwar Outperform 22/09/22 1022p 1325p 22/09/22
Esken Stephen Furlong/Eleanor Walsh Outperform 20/10/21 5p 30p 20/10/21
FBD Holdings Diarmaid Sheridan/Antonio Duarte Outperform 01/09/17 1355c 1785c 13/03/23
Flutter Entertainment Paul Ruddy Outperform 08/05/19 14630p 18600p 18/01/23
          14500p 18/10/22
Forterra plc Flor O'Donoghue/Andrea Collins Neutral 19/08/16 199p 273p 16/01/23
GB Group David Reynolds/Alex Short Outperform 11/08/22 300p 450p 22/02/23
Genuit Group Flor O'Donoghue Neutral 05/11/21 279p 350p 16/01/23
Givaudan Cathal Kenny Outperform 24/03/20 297300chf 329450chf 28/03/23
Glanbia Cathal Kenny Outperform 11/05/10 1336c 1620c 20/10/22
Glenveagh Properties Colin Sheridan Outperform 10/11/17 100c 162c 10/03/23
Grafton Group Flor O'Donoghue Outperform 07/10/20 886p 1300p 14/11/22
Greencoat Renewables Michael Mitchell Outperform 24/08/17 109c 125c 09/05/23
          130c 18/10/22
Greencoat UK Wind Michael Mitchell Outperform 09/05/23 160p 186p 09/05/23
Greencore Group Gary Martin/Cathal Kenny Neutral 13/03/18 81p 333p 11/11/16
Harworth Group Colin Sheridan/Andrea Collins Outperform 19/11/21 109p 213p 19/11/21
Heidelberg Materials Ross Harvey Neutral 04/02/20 6726c 8100c 04/11/21
HelloFresh David Reynolds/Alex Short Outperform 09/02/22 2191c 3500c 17/02/23
Holcim Ross Harvey Neutral 14/01/22 5890chf 6500chf 30/04/21
Hostelworld David Reynolds/Ross Harvey Outperform 15/12/15 132p 150p 14/05/21
Howden Joinery Flor O'Donoghue Outperform 31/03/22 698p 895p 04/11/22
Huhtamaki Justin Jordan Neutral 03/04/23 3420c 3500c 03/04/23
hVIVO Colin Grant/Hammad Anwar Restricted Restricted 15p Restricted Restricted
IAG Stephen Furlong/Eleanor Walsh Outperform 27/09/22 151p 215p 17/05/23
          170p 12/01/23
Ibstock plc Flor O'Donoghue Neutral 04/08/17 173p 206p 16/01/23
IRES REIT Colin Grant/Hammad Anwar Outperform 08/05/15 93c 160c 03/05/23
Irish Continental Group Stephen Furlong/Eleanor Walsh Outperform 30/08/18 437c 700c 11/05/23
ITM Power Michael Mitchell Outperform 23/02/21 85p    
Just Eat Takeaway.com David Reynolds/Alex Short Outperform 18/01/22 1753c 3000c 06/07/22
Kainos Group plc David Reynolds/Alex Short Neutral 06/09/22 1382p 1200p 06/09/22
Kenmare Colin Grant/Hammad Anwar Outperform 03/08/16 470p 543p 19/09/17
Kerry Group Cathal Kenny Outperform 30/06/09 9184c 11470c 28/03/23
Kingspan Group Flor O'Donoghue Outperform 12/05/11 6304c 8300c 12/05/23
          8150c 21/10/22
Lufthansa Stephen Furlong/Eleanor Walsh Outperform 24/01/22 1026p 1200p 17/05/23
          1000p 12/01/23
Malin Corporation Colin Grant/Hammad Anwar Outperform 29/09/15 690c 1550c 15/03/18
Marks Electrical Group David Reynolds/Alex Short Outperform 12/01/23 84p 100p 26/07/22
    Neutral 26/07/22      
Marshalls Ross Harvey Neutral 10/11/21 313p 320p 16/01/23
Mincon Group Colin Sheridan Outperform 14/02/14 101c 135c 18/05/23
Mondi Justin Jordan Neutral 05/05/20 1282p 1400p 04/05/23
          1450p 03/04/23
Moonpig David Reynolds/Alex Short Neutral 06/10/21 123p 120p 21/03/23
musicMagpie Plc David Reynolds/James Musker Neutral 29/09/21 26p 35p 20/01/23
Naked Wines David Reynolds/Alex Short Neutral 06/10/21 103p 125p 01/02/23
Norwegian Air Stephen Furlong/Eleanor Walsh Neutral 01/09/15 1074nok 1200nok 17/051/23
          850nok 12/01/23
On the Beach David Reynolds/Alex Short Outperform 09/02/23 144p 270p 09/02/23
OnTheMarket David Reynolds/James Musker Neutral 09/08/22 70p 100p 09/08/22
Origin Enterprises Cathal Kenny Outperform 30/06/09 413c 460c 21/10/22
Ormonde Mining Colin Grant/Hammad Anwar Outperform 04/05/11 0.75p 10.7p 18/02/15
Permanent tsb Group Diarmaid Sheridan/Antonio Duarte Outperform 04/02/21 231c 340c 24/01/23
Persimmon Colin Sheridan Neutral 17/08/20 1256p 2380p 17/08/20
Redrow Colin Sheridan  Neutral 10/09/13 476p 568p 01/09/20
Rightmove David Reynolds/James Musker Outperform 24/01/22 563p 799p 24/01/22
Ryanair Holdings Stephen Furlong/Eleanor Walsh Outperform 07/12/09 1488c 2200c 17/05/23
          2100c 12/01/23
Saint-Gobain Group Ross Harvey/Flor O'Donoghue Outperform 29/01/21 5232c 7200c 06/08/21
SCA Justin Jordan Neutral 03/04/23 13645sek 15000sek 03/04/23
Science in Sport Gary Martin Neutral 30/09/22 12p 75p 09/03/22
Smurfit Kappa Group Justin Jordan Outperform 30/06/09 3333c 4200c 03/04/23
Sosandar David Reynolds/James Musker Outperform 26/07/22 24p 25p 26/07/22
Stelrad Andrea Collins/Flor O'Donoghue Outperform 11/05/23 118p 213p 11/05/23
Stora Enso Justin Jordan Outperform 10/05/23 1218c 1400c 10/05/23
    Neutral 03/04/23 1198c 1300c 20/04/23
Symrise Cathal Kenny Outperform 24/03/20 10020c 11440c 28/03/23
Taylor Wimpey Colin Sheridan  Outperform 10/09/13 119p 158p 01/09/20
THG Gary Martin Outperform 06/05/21 68p 80p 20/10/22
Travis Perkins Flor O'Donoghue Neutral 28/05/20 956p 935p 16/01/23
Treatt Cathal Kenny Neutral 08/04/21 582p 670p 28/03/23
TRIG Michael Mitchell Neutral 09/05/23 128p 145p 09/05/23
Trustpilot Group plc David Reynolds/Alex Short Neutral 06/09/22 89p 100p 21/03/23
Tullow Oil Colin Grant/Hammad Anwar Outperform 15/01/20 32p 100p 24/05/23
Tyman Ross Harvey Outperform 24/03/21 241p 320p 16/01/23
Uniphar Colin Grant/Hammad Anwar Outperform 27/08/19 298c 500c 14/01/22
UPM Justin Jordan Outperform 03/04/23 3095c 3600c 26/04/23
          3800c 03/04/23
Virgin Wines UK David Reynolds/Alex Short Neutral 26/07/22 40p 50p 20/03/23
Vistry Group Colin Sheridan Outperform 10/09/13 781p 907p 01/09/20
Volution Flor O'Donoghue/Ross Harvey Outperform 31/03/21 431p 419p 16/03/23
Watkin Jones Colin Sheridan Outperform 26/03/21 89p 247p 09/05/23
          282p 08/11/21
Wizz Air Holdings Stephen Furlong/Eleanor Walsh Outperform 12/01/23 2973p 4250p 12/01/23

 

 

* The validity period for all ratings is 12 months.

** Market price as of close March 31st 2023.

Last updated: May 24th 2023