Wedbush Starts Taylor Morrison Home (TMHC) at Neutral
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Wedbush initiates coverage on Taylor Morrison Home (NYSE: TMHC) with a Neutral rating and a price target of $18.00.
Analyst Jay McCanless commented, "We are initiating coverage of Taylor Morrison with a NEUTRAL rating and an $18 price target. TMHC’s relatively high Houston exposure is a major concern for us as is the Company’s relatively low exposure to first time buyers. We do not see an external or internal catalyst capable of changing these issues in the near or long term, and we are content on the sidelines as a result."
Shares of Taylor Morrison Home closed at $16.70 yesterday.
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