Taylor Wimpey share price: what now after election spells good news?
The British homebuilder has seen its stock soar after the Conservative Party secured a landslide victory in the UK election last week.
Taylor Wimpey saw its share price get a major boost after the Conservative Party secured a landslide victory in the UK election last week.
The Tories have pledged to build one million new homes over the next five years, increasing demand for Taylor Wimpey and other British homebuilders.
The election result also reduces uncertainty over Brexit significantly, with the Conservative’s boasting a strong majority in the House of Commons, ensuring that the UK will leave the EU on January 31.
Taylor Wimpey exceeds Liberum Capital's expectations
Liberum Capital reiterated its hold rating for Taylor Wimpey ahead of the UK general election.
Analysts at the investment bank also issued a target price for the stock of 160p, with the British homebuilder exceeding expectations prior to the election result, with its share price closing at 173p on polling day.
Since then Taylor Wimpey has seen its share price surge more than 15% to close at 201p on Monday.
You can go long or short Taylor Wimpey with IG using derivatives like CFDs.
British homebuilders boosted by Tory victory
It is worth mentioning that the gains Taylor Wimpey enjoyed in the wake of the Tories victory last week were shared by the sector at large.
British homebuilders including Barratt Developments, Berkeley Group and Persimmon all saw their share prices rally by more than 17%, 15% and 12% respectively since the election.
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