Purplebricks on track for full year
In the briefest of updates on Monday, AIM-listed hybrid estate agency Purplebricks confirmed it remains on track to meet the board’s full-year expectations.
FTSE AIM 100
3,637.40
17:14 26/04/24
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FTSE AIM 50
3,960.47
17:14 26/04/24
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FTSE AIM All-Share
755.28
17:14 26/04/24
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Purplebricks Group
0.31p
16:30 15/06/23
-3.13%
-0.01p
Investec said it expects to see strong first-half growth, with the company continuing to disrupt the UK market and take share.
“Australia and the US provide further optionality/upside. With the shares trading below recent highs despite strong momentum, we see significant valuation upside,” the brokerage said, as it reiterated its 465p price target and ‘buy’ recommendation on the stock ahead of its interim results on 13 December.
At 0915 GMT, the shares were up 2% to 398p.