Deutsche Bank Initiates Coverage on M.D.C. Holdings (MDC) with a Buy
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Deutsche Bank initiates coverage on M.D.C. Holdings (NYSE: MDC) with a Buy rating. Price target $46.
Deutsche analyst says, "MDC has a long history as a homebuilder, but these days we think its balance sheet makes it look more like a land fund. Only 19% of capital is deployed to homebuilding assets, with 81% in cash and equivalents. Moreover, the 19% in operating assets is more readily monetizable than other builders' assets. Since we think housing could be in for more choppy times the next 12-18 months, we think MDC is best positioned among its peers to capitalize on distressed opportunities."
To see more analyst ratings on MDC Click Here.
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