Gilts Rally

UK gilts rally and all stock picks are a mix of BUY: 83%, HOLD: 7% and SELL: 10%

1. OVERWEIGHT Team17

Top interesting stock pick this week is OVERWEIGHT Team17 Group by Barclays with a tip performance of 13%.

Team17 is a British video game developer and publisher based in Wakefield, England. Team17 share price listed at 233 in 2018, reached an all-time high of 870p in 2021 and is now at 315p.

Significant recent announcement is that Barclays upgraded Team17 to OVERWEIGHT. Recent game releases include:

• Headbangers: Rhythm Royale October 31, 2023.
• T Ung October 26, 2023.
• The Unliving October 26, 2023.
• DREDGE - The debut expansion ‘THE PALE REACH’ – October 5, 2023.

Blackbird Interactive and Team17 - They debuted gameplay reveal for Earthless on October 2, 2023. Classified: France ’44 - set to launch in 2024.

It’s also worth noting that Jefferies raised Team17 to ‘HOLD from ‘UNDERPERFORM with a price target of 475 pence, further indicating growing confidence in the company’s prospects.

In Stockomendation Berenberg and Shore Capital say BUY, Barclays has OVERWEIGHT and Emma Powell and Jefferies say HOLD. There is one short position open by JP Morgan.

2. BUY Watches of Switzerland

Second interesting stock pick this week is BUY Watches of Switzerland Group by Shore Capital with a tip performance of 11%.

Shares jumped 13% on Tuesday and the company was the FTSE’s top riser after the announcement of an ambitious growth plan that aims to double profits in the next five years. Watches of Switzerland is the UK’s top Rolex distributor. Watches of Switzerland listed at 308p in 2019, reached an all-time high of 1,470p in 2021 and today is at 569p.

In Stockomendation Goldman Sachs, Shore Capital and HSBC say BUY, Barclays says OVERWEIGHT and Jon Smith says AVOID. There are five active short positions currently open.

3. BUY Persimmon

Third interesting stock pick this week is BUY Persimmon by Alan Oscroft in The Motley Fool with a tip performance of 6%.

The York headquartered house builder was founded in 1972 and is named after a horse that won the 1896 Derby and St. Leger for the Prince of Wales. Persimmon operates from 30 regional offices throughout the UK, trading under the brand names of Persimmon Homes, Charles Church, and Westbury Partnerships In 2022, Persimmon sold 14,868 homes with an average selling price of £248,616.

Persimmon share price listed at 144p in 1988, reached an all-time high of 3,230 in 2020 and is now at 1,151p.

Persimmon share price gained 5% in morning trading after the house builder posted a Q3 trading update, reporting that trading in the period was in line with expectations and pricing was broadly stable and that they are on track to deliver around 9,500 quality new homes in 2023 with operating profit in line with expectations and at an operating margin similar to the first half.

In Stockomendation Aan Oscroft, James Beard and Paul Summers say BUY with Peel Hunt and Jefferies say HOLD. There are 9 active short positions currently open.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 9th Novmeber 2023.