Ferguson - Turning up the heat

Buy Ferguson (FERG.L)

Ferguson PLC is a distributor of plumbing and heating products. The Company operates through seven business units: Blended Branches, Waterworks standalone, HVAC standalone, Industrial standalone, Fire and Fabrication, Facilities Supply standalone and B2C e-commerce.

Market Cap: £15.35Billion

Ferguson is trading in a bullish long term channel. The shares are trading just below all time high and there is no sign of the momentum slowing. The small corrective move lower in recent days has attracted buying interest and a move to new highs is expected.

Stop: 6545p
Target 1: 7200p
Target 2: 7600p
Target 3: 8000p

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