Barratt Developments downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Barratt Developments to Equal Weight from Overweight with a price target of 560 GBp, up from 464 GBp. Following Q4’s rally, the analyst still sees “some scope for even a modest price/cost to support an inflexion on earnings” for UK homebuilders. The firm made rating changes to reflect “relative scope for growth and discounted valuations.”