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Fly News Breaks for May 3, 2018
HHC
May 3, 2018 | 11:35 EDT
BWS Financial analyst Vahid Khorsand says accounting changes instituted at the beginning of the year hid Howard Hughes' growth and demand in condominium units in Q1. Demand for new homes in the company's master planned communities has picked up as evidenced by the increase in builder participation revenue, Khorsand tells investors in a post-earnings research note. He believes Howard Hughes' building out process is making the shares "misunderstood and unappreciated." Khorsand keeps a Buy rating on the name with a $150 price target.
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