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RBC Capital Markets has maintained its 'underperform' rating on Vistry Group PLC (LSE:VTY), the housebuilder, with a price target of 180p, compared with a share price of 271.60p. Analyst Anthony Codling said Vistry's half-year results next Thursday would be the "warm-up act" for new chief executive Adam Daniels's strategic review.

Vistry Group PLC (LSE:VTY), the housebuilder, saw its shares rise 15% to 308p on Tuesday after it secured the largest possible direct grant award under the first allocation of the government's £39 billion Social and Affordable Homes Programme. The stock hit an intraday high of 308 pence, up from Monday's close of 268.60 pence, after opening at 282 pence.

Vistry Group PLC (LSE:VTY) shares fell 9% to 258p after a report that one of Britain's largest trade credit insurers has cut cover for the housebuilder's suppliers. Allianz Trade has reduced credit limits by as much as 70% on new trading agreements in recent weeks, according to the Financial Times, citing people familiar with the decision.

Vistry benefits from the UK affordable-housing shortage and a relatively capital-light business model. Funding delays, cost overruns, and discounted sales are putting pressure on profits and cash flow. Liquidity and covenant headroom are tightening, creating a risk of an equity raise.

Vistry Group LON: VTY said it expects a first-half loss before tax of about GBP 30 million after cash-generation actions, while maintaining full-year adjusted profit guidance of around GBP 200 million and outlining plans to reduce leverage under new Chief Executive Adam Daniels.