Brokers review Foxtons after profits warning

Equities researchers at the bank Credit Suisse have slashed their target price for Foxtons’ shares from 372p to 215p.

Foxtons shares ended last week at 158p following its profits warning.

Credit Suisse, which gives Foxtons an ‘outperform’ rating, appears to believe that its shares can recover by some 25%.

Other analysts have also been quick to comment on Foxtons.

Numis Securities reiterated its ‘buy’ rating and set a target of 290p. However, Canaccord Genuity downgraded Foxtons to ‘hold’ and set a target of 228p, cut massively from 382p.

Foxtons floated just over a year ago with the shares priced at 230p. Over the last 52 weeks, its shares reached a high of 402.20p.

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