Deutsche Bank upgraded Persimmon Plc to buy from hold. The bank cited recent share price weakness as the primary driver for the rating change. Analysts slightly reduced the price target to 1,403 pence from 1,419 pence.
Persimmon’s first-half 2026 results surpassed analyst expectations for operating margins. The company achieved 13% year-on-year volume growth. This performance helped the homebuilder offset ongoing margin pressures.
Management reaffirmed full-year guidance and targets the upper end of its completions range. Deutsche Bank expects Persimmon's profits to remain broadly flat through 2028. This outlook contrasts with the profit declines anticipated across the wider housing sector.