Berenberg Keeps Positive View on Barratt Redrow; Estimates Adjusted

06:03 AM EDT, 09/21/2026 (MT Newswires) -- Berenberg revised its earnings forecasts for Barratt Redrow (BTRW.L) after the British residential developer published its fiscal 2026 earnings. "While trading conditions remain challenging, we maintain our positive view, having upgraded the company in the summer in which we made the case that the low valuation, robust balance sheet and significant capital returns combined to make an attractive investment thesis," the research firm said Monday. For the 52 weeks ended June 28, Barratt Redrow reported a 6.6% revenue increase to 6.06 billion pounds sterling on higher home completions, while lower underlying operating margins dragged adjusted pretax profit down 7.1% to 572.8 million pounds. Looking ahead, the homebuilder targets 2027 home completions of between 17,500 units and 17,900 units. The company also confirmed a planned 400 million-pound capital return to shareholders, mainly via share buybacks. Against this backdrop, analysts raised their sales estimates by 0.3% each for fiscal years 2027, 2028 and 2029, while EPS projections for the three years were respectively cut by 6.3%, 11.2% and 14.2%. Berenberg left the stock's buy rating and price target of 3.70 pounds unchanged.