Persimmon upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded Persimmon to Equal Weight from Underweight with a price target of 1,300 GBp, down from 1,360 GBp. The analyst believes 2023 consensus estimates are now overly conservative and that the shares priced for long-term erosion of Persimmon’s historical return on invested capital outperformance.