Marshalls tops FTSE 250 after broker upgrade

UK building material supplier Marshalls was the FTSE 250’s top gainer on Thursday, as the group received a broker upgrade suggesting substantial upside from the current share price.

Marshall was upgraded to ‘buy’ from ‘hold’ by Berenberg, who also increased their price target to 420p from 320p.

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Marshall’s shares were over 5% to the good at 296p at the time of writing on Thursday.

The company is held in Jupiter’s Rights and Issues Investment Trust, an addition made last year targeting the deep value in the company.

Speaking at the UK Investor Magazine Investment Trust Virtual Conference last year, Investment Manager Daniel Nickols explained they saw value in Marshall’s valuation compared to the historical average and felt the company was an ideal opportunity to position for the eventual recovery in the UK economy.

Marshalls trades at a trailing PE Ratio of 9.

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