Davy raises price target for ‘distinctly undervalued’ Glenveagh share price

The stockbroking firm said it believes shares in Glenveagh could rise more than 90 per cent in value if the market values the company properly

Stephen Garvey, chief executive of Glenveagh

Analysts at Davy stockbrokers have raised its price target for shares in Glenveagh, the listed home building company, after it’s half year results provided a “considerable amount of confidence in the outlook”.

Colin Sheridan, an equity analyst at Davy, said Glenveagh is a company that remains “distinctly undervalued”, and he was increasing his price target for the company’s share price by 4 per cent to €1.69.

Shares in Glenveagh are currently trading at less than ...