Wedbush Starts TRI Pointe Homes (TPH) at Outperform

September 20, 2016 7:16 AM EDT
Get Alerts TPH Hot Sheet
Price: $12.24 -2.55%

Rating Summary:
    7 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Wedbush initiates coverage on TRI Pointe Homes (NYSE: TPH) with a Outperform rating and a price target of $17.00.

Analyst Jay McCanless commented, "We are initiating coverage of TRI Pointe with an OUTPERFORM rating and a $17 price target. A ramping community count should provide order growth and revenue growth into 2017. Additionally, Houston’s issues have been well documented, but TPH’s order growth appears to be stabilizing. Thus, at the current valuation discount to the group, we believe the risk/reward balance favors investors."

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

Shares of TRI Pointe Homes closed at $12.55 yesterday.

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