Panmure Liberum says Persimmon (LSE:PSN), the UK housebuilder, is "standing out from the crowd" as the broker posted a 'BUY' note with a 1,694p price target.
Analyst Adrian Kearsey credits Persimmon with positive operational momentum, higher net private sales per outlet, an increase in average outlets and rising ASPs.
Moreover, the note points to management's unchanged completions guidance of 12,000-12,500 homes, and highlights 'comfort' with consensus full‑year underlying PBT of c.£462m.
Panmure highlights the standout metrics behind the call: average weekly net private sales per outlet up to 0.76 YTD (from 0.74), private forward sales rising to £1.80bn (from £1.68bn), private ASP around £306,900 (c.+5% y/y), an estimated c.£5,000 build‑cost saving from in‑house materials and a PL completion estimate of 12,016, and the broker says it is leaving its revenue, earnings and cash forecasts unchanged.
"Assuming market conditions do not materially deteriorate, we anticipate delivering profit before tax in line with consensus," management said, and Panmure flagged Persimmon's half‑year results in August as the next material proof point," Kearsey added.
