1010 GMT - Bellway's strong order book shows it is well-positioned to capture any upside in demand, Jefferies analysts say in a note. This despite the U.K. housebuilder's currently cautious outlook for FY 2026, which forecasts volume growth, no change in selling rates, and management comfortable at completions of 9,200 units, Jefferies says. "We see the Bellway share price as yet to reflect the upside potential from market improvement, reset of margin from new land intake, and/or potential government policy, either relaxation of mortgage lending or demand-side stimulus," Jefferies says. Shares are down 4.9% at 2,438 pence. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
February 11, 2025 05:10 ET (10:10 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.