Cavco Industries (CVCO) PT Raised to $257 at Craig-Hallum on Best Demand Environment In Years
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Craig-Hallum analyst Greg Palm raised the price target on Cavco Industries (NASDAQ: CVCO) to $257.00 (from $234.00) after the company reported solid results and strong demand commentary that implies pricing flexibility even when commodity costs normalize.
The analyst reiterated the Buy rating, stating "With orders up 65% and backlog 310% y/y, revenue acceleration coupled with meaningfully higher bottom-line growth will be the key story in CY21. Notably, ASPs were up 13% y/y in the quarter, mostly from recent price increases to offset higher input costs. Importantly, we believe current pricing can be sustained even if/when commodity costs normalize, which should result in meaningfully better quarters ahead. At that point, we expect a much bigger move in the stock and encourage investors to accumulate shares before this happens."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- EQT AB (EQT:SS) PT Lowered to SEK245 at Goldman Sachs
- Yaskawa Electric (6506:JP) (YASKY) PT Raised to JPY7,000 at Goldman Sachs
- Moody's Corp (MCO) PT Raised to $322 at Stifel, Raises Estimates
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRaising Prices
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!