This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Attractive bullish bounce from rising support. Low UK interest rates, no rate hike imminent. Attractive 5% dividend yield (2017 final div +25%). Whilst UK Retail is not in a great place, due to on-line competition, exposure to office (West End) and leisure helps balance this, along with more prime retail, and long-term leases.
Consensus is predominantly neutral (68% of brokers say Hold), however, only 11% say Sell and a healthy 81% of broker target prices suggest upside from current levels. The average broker 12-month target (1028p; 8.7% upside) is still well above our short term target of regaining May’s 990p highs.
Next Event: Ex-div (14.65p), 21 June; Half-year results, mid-November
Latest Broker 12-Month Consensus: 21% Buy, 68% Hold, 11% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 1.0 | -4.0 | 2.0 | -1.4 | -17.1 | -24.0 | -28.9 | -19.0 | -4.9 |
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