London’s FTSE 100 was 0.2% higher at 7,472.95 in afternoon trade on Friday.
Persimmon got a boost after Morgan Stanley double-upgraded shares of the housebuilder to ‘overweight’ from ‘underweight’ and hiked the price target to 1,685p from 1,131p.
It noted that Persimmon’s niche is affordable homes on a UK-wide basis, and its underweight thesis was partly based on rising affordability risks.
“As mortgage rates fall,…
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