Wedbush Starts AV Homes (AVHI) at Neutral

Wedbush initiates coverage on AV Homes (NASDAQ: AVHI) with a Neutral rating and a price target of $18.00.

Analyst Jay McCanless commented, "We view experienced management, an improving balance sheet, and substantial land holdings in central Florida as long-term positive catalysts for AVHI. We anticipate these drivers are priced into the shares at current levels, and we are initiating coverage with a NEUTRAL. We believe there is only one other analyst publishing estimates on AVHI, and we encourage clients to be mindful of this when reviewing our numbers versus consensus. We are estimating continuing FY16 EPS of $1.13 and GAAP FY17E/FY18E EPS of $1.13/$1.32."

For an analyst ratings summary and ratings history on AV Homes click here. For more ratings news on AV Homes click here.

Shares of AV Homes closed at $16.05 yesterday.

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