UPDATE: Wells Fargo Starts Forestar Group (FOR) at Overweight Citing the Company as His High Conviction Idea
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Wells Fargo analyst Deepa Raghavan initiates coverage on Forestar Group (NYSE: FOR) with a Overweight rating and a price target of $32.00 while citing the company as his high conviction name.
He stated "Post an unexpectedly robust 2020, builders have somewhat depleted their land banks and are now trying to replenish.However, desirable & finished lots are not readily available and hence, come at a premium. Land is the primary input to feed growth and builders that have premium access should gain share."
Shares of Forestar Group closed at $25.06 yesterday.
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