Rightmove initiated with an Underperform at Jefferies. Jefferies analyst Giles Thorne initiated coverage of Rightmove with an Underperform rating and 500 GBp price target. The analyst sees risk of real estate agents leaving the company's platform.
Rightmove upgraded to Neutral from Sell at Goldman Sachs. Goldman Sachs analyst Lisa Yang upgraded Rightmove to Neutral from Sell with a price target of 653 GBp, up from 522 GBp. Yang sees reduced headwinds from U.K. housing market trends, and believes the better macroeconomic outlook should give Rightmove "scope for ARPU growth through price increases and product upsell."
Rightmove downgraded to Hold from Buy at Deutsche Bank. Deutsche Bank analyst Silvia Cuneo downgraded Rightmove to Hold from Buy citing valuation. The analyst believes the company's management transition is now priced into the shares.