Wedbush Starts CalAtlantic Group (CAA) at Outperform
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush initiates coverage on CalAtlantic Group (NYSE: CAA) with a Outperform rating and a price target of $44.00.
Analyst Jay McCanless commented, "We are initiating coverage of CalAtlantic Group with an OUTPERFORM rating and a $44 price target. The shares currently trade below our FY17E book value of $41.08/share which has historically suggested that either land values or home values will begin to flatten out or decline. We do not see signs of either occurring over the near to medium term. Thus at current levels, investors can buy CAA’s national land base at a discount to historical cost and receive a healthy operating business as well."
Shares of CalAtlantic Group closed at $33.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Seaport Global Securities Starts GCP Applied Technologies (GCP) at Buy
- UPDATE: Benchmark Starts Cross Country Healthcare (CCRN) at Buy
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!