Taylor Wimpey share price: what now after election spells good news?
The British homebuilder has seen its stock soar after the Conservative Party secured a landslide victory in the UK election last week.
Taylor Wimpey saw its share price get a major boost after the Conservative Party secured a landslide victory in the UK election last week.
The Tories have pledged to build one million new homes over the next five years, increasing demand for Taylor Wimpey and other British homebuilders.
The election result also reduces uncertainty over Brexit significantly, with the Conservative’s boasting a strong majority in the House of Commons, ensuring that the UK will leave the EU on January 31.
Taylor Wimpey exceeds Liberum Capital's expectations
Liberum Capital reiterated its hold rating for Taylor Wimpey ahead of the UK general election.
Analysts at the investment bank also issued a target price for the stock of 160p, with the British homebuilder exceeding expectations prior to the election result, with its share price closing at 173p on polling day.
Since then Taylor Wimpey has seen its share price surge more than 15% to close at 201p on Monday.
British homebuilders boosted by Tory victory
It is worth mentioning that the gains Taylor Wimpey enjoyed in the wake of the Tories victory last week were shared by the sector at large.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.