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Jefferies reviews stance on construction stocks

28 March 2017 15:07

Jefferies has taken a fresh look at the building and construction sector, resulting in an upgrade for Costain (LON:COST) and downgrades for Carillion (LON:CLLN) and Balfour Beatty (LON:BBY).

The broker said: "We favour COST's simplified strategy, higher margins, greater contract certainty and stronger balance sheet.

"Though CLLN's earnings outlook is solid, the Group's balance sheet and pension deficit erode much of the value, while we believe BBY's recovery story is now priced in."

Costain moves to buy from hold, while Carillion and Balfour have both been cut to hold from buy.

At 3:07pm:

(LON:BBY) Balfour Beatty PLC share price was -1.2p at 264p

(LON:CLLN) Carillion PLC share price was -4.55p at 215.05p

(LON:COST) Costain Group PLC share price was +6.25p at 443.25p

Story provided by StockMarketWire.com

Related Company: COST

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