Shares in builders and plumbers merchant chains Wolseley and Travis Perkins rose to their highest levels for two and half years yesterday (January 11).
Wolseley’s market value rose 64% last year and broker Citigroup estimates that shares could reach £30 by the end of this year, with a £45 level in three years not out of the question.
Meanwhile broker Numis expects Travis Perkins’ acquisition of BSS to enhance earnings per share by more than 13%. As a result, Travis shares are also being tipped as ones to buy.