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Deutsche Bank Starts Taylor Morrison Home (TMHC) at Hold, Says 'Risks Downplayed'

May 21, 2013 10:28 AM EDT Send to a Friend
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Price: $22.49 +0.85%

Rating Summary:
    5 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 34 | Down: 12 | New: 36
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Deutsche Bank today initiated coverage on Taylor Morrison Home (NYSE: TMHC) with a Hold rating and a price target of $26.00. Analyst Nishu Sood is clearly not as bullish as many other analysts on the street Street.

"We project Taylor Morrison to have amongst the highest community count growth in the builder group the next few years, which should also propel strong book value accretion. We agree with investors on the impressiveness of this growth, but we disagree on the inherent value of having a longer land supply. In our view, a longer land supply won't necessarily lead to a superior margin trend. Since investors have incorporated a valuation premium for both growth and a longer land profile, we think Canadian risk is being downplayed," he said.

For an analyst ratings summary and ratings history on Taylor Morrison Home (NYSE: TMHC) click here. For more ratings news on Taylor Morrison Home click here.

Shares of Taylor Morrison Home closed at $26.33 yesterday.




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