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Thursday 14 December 2017

Davy rates Grafton

stocks

Building materials company Grafton Group still has significant scope for further earnings growth, according to Davy Stockbrokers, which has raised its rating on the stock to outperform.

Davy analyst Flor O'Donoghue said that since the beginning of 2014, the firm has raised its earnings forecasts for Grafton by over 20pc.

He described Grafton, which owns the Woodies and Atlantic Homecare DIY chains here but generates 75pc of its business in the UK, as a "clear stand-out" in a peer group in which earnings estimates are starting to come under pressure.

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