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Fly News Breaks for July 8, 2019
DHI, FOR
Jul 8, 2019 | 07:10 EDT
Wells Fargo started coverage of Forestar Group (FOR) with an Outperform rating and a $23 price target. The company's relationship with D.R. Horton (DHI) provides a unique growth opportunity and visibility over the next several years, the firm contends, adding that it believe Forestar has a clear path to increase lot sales by 10 times and Revenues by 9 times over 3 years, driving a 54% EPS CAGR the next 2 years, while having near-term support given D.R. Horton's land requirements.
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