Cairn Homes - Guidance reiterated amidst strongest demand seen to date

Davy Research
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Cairn Homes has seen the strongest levels of demand yet in the market in recent months, driving a big increase in the order book to 1,600 units (now 87% sold out for FY22). Guidance has been reiterated for FY22 and the medium term. The stock is very well positioned for the rest of 2022, and we reiterate our ‘Outperform’ rating.