FBR Capital Starts Taylor Morrison Home (TMHC) at Outperform; Emerging Premier Homebuilder

May 21, 2013 6:52 AM EDT Send to a Friend
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Price: $19.28 +0.63%

Rating Summary:
    5 Buy, 6 Hold, 0 Sell

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    Up: 15 | Down: 38 | New: 13
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FBR Capital initiates coverage on recent IPO Taylor Morrison Home (NYSE: TMHC) with a Outperform rating and $31 price target.

Analyst Steve Stelmach said, "The company has one of the longest land positions of the public homebuilders, which dovetails well with our long-held homebuilding thesis. We remain positive on the long-term macro housing picture in the U.S. and believe that Taylor Morrison should see greater margin expansion and more order growth than competitors as the next phases of the recovery unfold."

He continued, "Furthermore, the company's Canadian brand, Monarch, should offer additional diversification to the business model. We believe that with a seasoned management team and fresh capital to allocate, Taylor Morrison will see strong growth during the next few years and has the potential to emerge as a premier homebuilder."

For an analyst ratings summary and ratings history on Taylor Morrison Home click here. For more ratings news on Taylor Morrison Home click here.

Shares of Taylor Morrison Home closed at $26.33 yesterday.

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