Broker snap: Panmure remains cautious on Taylor Wimpey

19th Jun 2009 12:47

The AGM statement from Taylor Woodrow on Friday morning gave a lift to the whole of the housebuilding sector, but Panmure Gordon is refusing to get carried away by the wave of optimism.Broker Panmure Gordon said the upbeat tone should not have been a surprise, however, given that the company has generally been more optimistic than its peers in its recent trading statements. "That said, we still have concerns regarding the sustainability of recent momentum in the sector, and our recommendation therefore remains Hold for now," the broker said.