Foxtons is going through tough times. The stock went down over 40% in 2016. Clearly BREXIT played a key role on this sharp downward movement.
Although FTSE has recovered its losses from BREXIT, FOXT has shown little to no sign of any recovery. The stock is trading at 102p now.
Having analysed the stock, we believe FOXT is very cheap now and 102p is a pretty safe area to buy. Our initial target price is 107p (4% upside). There will be a strong resistance at this level. If it can be broken, we will see a spike to 114 – 115p level.
This cannot be considered an investment advice!!