Taylor Wimpey plc - Upgrades likely to FY21 estimates

Davy Research
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Sales rates are marginally lower in the early weeks of 2021 as the roll-off of UK stimulus might be starting to take effect. However, Taylor Wimpey has a significant order book that leaves the company largely sold forward for the year. 2020 results are a bit ahead of our estimates, and guidance for 2021 is ahead of expectations and will lead to further upgrades.