Purplebricks shares are downgraded by broker which reduces firm to ‘neutral’ rating

Purplebricks has been downgraded from an ‘overweight’ to a ‘neutral’ rating by JPMorgan Chase & Co.

It has set a new target for the share price at 145p, down from its previous target of 186p.

Purplebricks’ shares closed down some 4% on Friday, finishing at 120p.

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7 Comments

  1. Hillofwad71

    Time is fast running out for Bricks. Something has to give .The departure of Michael Bruce has lifted the  lid of an empty box.
     
      Instruction levels are well down on last year  which is not good news especially now they should be concentrating on the day job after withdrawing wounded from overseas.
    Vic has arrived as a damp squib so far  bereft of ideas to add new revenue streams . Is he just keeping the seat warm  l The only thing of note  this year is the the sport sponsorship including Team GB for the Olympics.
     
      They can only hope that Bricks jinx overseas doesn’t rub  off onto them as they approach  Japan.
    What is noticeable also is that the estate agency world have been less vocal about them recently . A sure sign they are having little impact.
    Surely Axel will come in and finish the job off unless there is a new beast on the scene willing to take  a £370m punt
     
      Maybe its Keller Williams now Russell Quirk is back  on the scene. You couldn’t make it up. Less than 12 months after investors money went down the toilet ,jobs lost . No shame Quirk  able to invest with money down the back of his trousers  in another!!!!
     
      “Months of contemplating and reflection have led me to invest in Keller Williams as the brand and model that has the potential to be one of the biggest estate agency businesses in the UK in addition to its worldwide status” says Russell Quirk.       

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    1. Woodentop

      I do hope that Team GB don’t find themselves suddenly left without or have they already paid out?

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  2. GPL

     

    Purplebricks – Totally F****d!

     

    Their NEW memorable slogan!

     

     

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  3. Hillofwad71

    Keller Williams have the grand total of  226 properties for sale having arrived in the UK in Sept 2013  !

     

    https://www.kwuk.com/search2/?instruction_type=Sale&address_keyword=&minprice=&maxprice=&property_type=

     

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    1. Woodentop

      Its the gravey train model. Only coming here if there is an opportunity to make money for themselves while they can, not provide a service or consequences for anyone else? UK investors have proven themselves to be gullible and about to get hit again?

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  4. Woodentop

    Investment banks Berenberg still have it shares value rated at 80p, UBS at 110p, Peel Hunt for the last 2 months still “under review”.

     

    With no light at the end of the tunnel, no wonder city brokers consensus is saying neutral.

     

    Flogging a dead horse!

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  5. Hillofwad71

    Australia

     

    72 field agents on the payroll to service 197 properties.They must be getting a decent retainer  to keep them insitu knowing they are on death row and need to find a new job

     

    Trading update not for a few months .It’s not going to be good news which could explain why Axel have not  lifted a finger since taking out Michael   Bruce’s stake

     

    Maybe Michael is using  his gardening  leave to pen a book .On the rise and fall and maybe rise again of Purplebricks. Make a great film

    Scroll back to N Ireland a couple of likely lads being born during the troubles   selling a dream (pup)  to an unsuspecting public

    Overseas  Cue Sporting Ken carousing at the Melbourne  God Cup Maybe John Michie to play the part

     

    Michael  overlooking the Pacific  at Monterey

     

    The Wolf on Wall Street  meets Bambi

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