FBR Capital Starts TRI Pointe Homes (TPH) at Outperform
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Price: $46.95 --0%
Rating Summary:
5 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital initiates coverage on recent IPO TRI Pointe Homes (NYSE: TPH) with a Outperform rating and $22 price target.
The analyst comments, "TRI Pointe, like other builders, should benefit from an improving macro economy and better demographic trends that favor housing of all stripes. TRI Pointe also offers greater exposure than peers to the tightening California housing market, as well as the benefit of what we expect to be better-than-peer new order growth, all at an attractive relative valuation. As a relatively new franchise, TRI Pointe may experience some operational hurdles while building out its infrastructure that other homebuilders are unlikely to face, but with management's successful history of working through previous housing recoveries (at other companies), we view the operational risks as manageable, particularly in light of the opportunities ahead."
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 $18.06 yesterday.
The analyst comments, "TRI Pointe, like other builders, should benefit from an improving macro economy and better demographic trends that favor housing of all stripes. TRI Pointe also offers greater exposure than peers to the tightening California housing market, as well as the benefit of what we expect to be better-than-peer new order growth, all at an attractive relative valuation. As a relatively new franchise, TRI Pointe may experience some operational hurdles while building out its infrastructure that other homebuilders are unlikely to face, but with management's successful history of working through previous housing recoveries (at other companies), we view the operational risks as manageable, particularly in light of the opportunities ahead."
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 $18.06 yesterday.
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