Berenberg Lifts Rightmove plc's Price Target After Four-month Trading Update; Buy Rating Kept

08:55 AM EST, 11/09/2026 (MT Newswires) -- Berenberg raised Rightmove plc's (RMV.L) price target to 6.65 pounds sterling from 5.75 pounds and maintained its buy recommendation as it took note of the company's trading update for the July 1 to Oct. 31 period. "Rightmove's trading update highlighted an upgrade to FY26 EPS guidance to at least 7% growth, broadly in line with consensus of 7.9%. Market conditions remain challenging, and Rightmove's FY27 guidance should result in small cuts to consensus revenue and operating profit, but they are offset at the EPS level due to the acceleration in the buyback, with GBP80m delivered by the end of FY26 - our FY27E EPS estimates are unchanged," analysts said Monday. The British property portal operator also narrowed its 2026 revenue growth guidance to between 6% and 7%, from the previous range of 6% to 8%, reflecting lower average revenue per advertiser guidance related to New Homes. Berenberg said the company's first guidance for 2027 is "marginally weaker than expected," with revenue growth projected to be similar to that of 2026 at 6% to 7%, compared with the consensus of 7.5%. "We update our forecasts to reflect this new guidance, which results in small cuts of 1.7%, 0.6% and 0.2% in our FY27 revenue, operating profit and EPS figures, respectively," the research firm added.