Wedbush Starts TRI Pointe Homes (TPH) at Outperform
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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."
Shares of TRI Pointe Homes closed at $12.55 yesterday.
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