Barclays upgrades Victorian Plumbing to ‘overweight’
Victorian Plumbing Group
79.30p
17:15 28/03/24
0.89%
0.70p
Barclays upgraded Victorian Plumbing on Thursday to ‘overweight’ from ‘equalweight’ and lifted the price target to 100p from 75p, citing gross margin upside potential and an improving track record.
FTSE AIM All-Share
743.26
16:50 28/03/24
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General Retailers
4,075.15
17:14 28/03/24
0.82%
33.33
The bank said the investment case was worth revisiting given an improving track record bolstered by clear long-term conviction and the potential for gross margin upside from falling freight rates.
It also pointed to impressive market share gains and strong positioning into a potential recession, with £46m net cash.