Berenberg cuts target to GBp 2,450 for Bellway stock

Published on 10/17/2026 at 22:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bellway completed 9,695 homes in fiscal 2026. Bellway stock was at GBp 2,118.00 on October 16, 2026, up 0.09 percent versus prior close.

Analyst stance and company scale

Berenberg cut Bellway's target to GBp 2,450 on October 14, 2026.
Fiscal 2026 revenue rose 13.60 percent to GBP 3.16 billion.
Bellway stock was last at GBp 2,118.00 on October 16, 2026 at 4:35 p.m. London time, up 0.09 percent versus its prior LSE close.
Bellway's P/E was 12.84 and its market capitalization was GBP 2.4 billion.

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According to MarketBeat on October 14, 2026, Berenberg cut its Bellway target from GBp 2,550.00 to GBp 2,450.00 while retaining a Buy rating. The new target stood 15.67 percent above Bellway's last LSE price of GBp 2,118.00. Bellway was at GBp 2,118.00 on October 16, 2026 at 4:35 p.m. London time, up 0.09 percent versus its prior LSE close.

Revenue grew in fiscal 2026

Quartr summarized Bellway's fiscal 2026 results dated October 13, 2026. Revenue increased 13.60 percent to GBP 3.16 billion, while completions rose 10.80 percent to 9,695 homes. Underlying operating profit increased 5.60 percent to GBP 320.60 million.

The operating picture was mixed. Underlying operating margin fell to 10.10 percent from 10.90 percent, a decline of 0.80 percentage points, while adjusted operating cash flow rose 36.00 percent to GBP 868.60 million. The combination leaves volume growth and margin protection as the central measures for the next reporting cycle.

Stock sits below its yearly high

Bellway's last price of GBp 2,118.00 was 26.71 percent below the 52-week high of GBp 2,890.00 and 23.50 percent above the 52-week low of GBp 1,715.00. The quote carried volume of 813,236 shares against an average volume of 485,157 shares. Both market figures are dated October 16, 2026.

Valuation follows the target cut

Bellway had a market capitalization of GBP 2.4 billion and a P/E ratio of 12.84 on October 16, 2026. The Berenberg target of GBp 2,450.00 remains above the LSE price, but the October 14 reduction from GBp 2,550.00 puts the analyst view closer to the current quotation.

Margin recovery remains central

The fiscal 2026 numbers set up a clear investor trade-off: completions and revenue expanded by 10.80 percent and 13.60 percent, while the operating margin contracted by 0.80 percentage points. Cash generation was stronger, but the lower margin makes execution on costs and pricing important for the next update.

Price and analyst view

Bellway combines a GBp 2,118.00 LSE price with a 52-week range of GBp 1,715.00 to GBp 2,890.00, a GBP 2.4 billion market capitalization and a Berenberg target of GBp 2,450.00. The price was last at GBp 2,118.00 on October 16, 2026 at 4:35 p.m. London time, up 0.09 percent versus its prior LSE close.