Additional Information
Market: LSE
Sector: Media & Publishing
EPIC: RMV
Latest Price: 2,506.00p  (-0.02% Descending)
52-week High: 2,814.00p
52-week Low: 2,047.00p
Market Cap: 2,482.45M
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Deal RMV Tax Free*
*subject to change and depends on individual circumstances.
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Rightmove Group
www.rightmove.co.uk
Deal Rightmove Group Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Rightmove Group  operates in the United Kingdom residential property industry connecting people to properties. Its principal business is the operation of the Rightmove.co.uk website.

Pdf

Rightmove shares fall 3% as UBS downgrades

January 08 2014, 11:34am The valuation call stems from a 95% rise in the share price in 2013, which leaves the stock very little to shoot at, according to analyst Catriona O'Grady.

Rightmove (LON:RMV) described as a great business with limited upside as UBS downgraded its recommendation shares in the property website.

The valuation call stems from a 95% rise in the share price in 2013, which leaves the stock very little to shoot at, according to analyst Catriona O'Grady.

She has pegged back her recommendation to ‘neutral’ from ‘buy’, though the price target rises to 3,020p from 2,600p.

At 11.30am, the shares were down 3% at 2,727p, valuing the business at £2.7bn.

“We continue to believe that Rightmove's business model offers a relatively defensive way to play the recovery in the UK housing market alongside longer term benefits from the structural shift in estate agent advertising spend online,” said O’Grady in a note to clients.

“That said, we believe the current share price reflects the potential for near term upgrades to earnings driven by further housing market growth in 2014.”


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