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UK property developer Crest Nicholson was rated a 'hold' by Peel Hunt analysts last week after it rejected a £650m bid from Bellway last month on the grounds it "significantly undervalued" the company. The latest Bellway offer values Crest Nicholson at 253p per share with a 16.7x yearnings yield. It is a "slight premium over other national (traditional) housebuilders," analysts said.

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Peel Hunt investment analysts rated property developer Harworth Group a 'buy' after it was given the green light to build a 1.5 million sq ft industrial and logistics hub. The 185-acre site is "one of the most strategically located, rail-connected sites in the region," analysts said. Harworth's shares are currently trading at a discount of 34 per cent with a yield of 1.2 per cent.

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