Taylor Wimpey rises as Goldman Sachs upgrades to 'neutral', raises TP

By Reuters News

** Shares of British homebuilder Taylor Wimpey TW.L up 1.5% at 77.3 p

** Goldman Sachs upgrades company to "neutral" from "sell" and raises target price to 82p from 69p

** "Following the recent re-basing of its shareholder return policy, the current valuation offers a more balanced risk/reward profile, with potential upside from the 'Your First Home' scheme offset by ongoing operational pressures in the South", Goldman Sachs says

** Six of the 19 analysts covering the stock have a "buy" or higher rating, 10 has "hold" while 3 rate it at "sell" or lower; median PT is 85 p- LSEG-compiled data

** YTD, Taylor Wimpey stock has fallen ~29%

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