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Persimmon ( (GB:PSN) ) just unveiled an update.
Persimmon Plc has announced the sale of its full-fibre broadband service, FibreNest, to BUUK Infrastructure for approximately £100 million, pending regulatory approval. This strategic move allows Persimmon to reallocate resources towards its growth strategy and reduces the need for future investment in FibreNest. The sale is expected to enhance customer choice by providing access to multiple internet service providers under BUUK’s management, which is known for its strong customer service in fibre and multi-utility networks.
The most recent analyst rating on (GB:PSN) stock is a Buy with a £1834.00 price target. To see the full list of analyst forecasts on Persimmon stock, see the GB:PSN Stock Forecast page.
Spark’s Take on GB:PSN Stock
According to Spark, TipRanks’ AI Analyst, GB:PSN is a Outperform.
Persimmon Plc demonstrates solid financial health with revenue recovery and no debt. The technical analysis indicates upward momentum, though caution is advised on overbought signals. Valuation is attractive with a good dividend yield. Recent corporate events show strong operational progress and strategic support, enhancing future prospects.
To see Spark’s full report on GB:PSN stock, click here.
More about Persimmon
Persimmon Plc is a prominent company in the construction industry, primarily focused on building new homes across England, Wales, and Scotland. The company also offers services such as FibreNest, an ultrafast, full-fibre broadband service established in 2018, which provides internet access to new homes developed by Persimmon.
Average Trading Volume: 2,147,649
Technical Sentiment Signal: Hold
Current Market Cap: £4.3B
See more data about PSN stock on TipRanks’ Stock Analysis page.