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Fly News Breaks for January 7, 2019
LGIH
Jan 7, 2019 | 08:25 EDT
As previously reported, Wells Fargo analyst Stephen East upgraded LGI Homes to Outperform from Market Perform as the big retrenchment in rates, its Entry Level focus and much better Closings performance the last two months positions its equity to rise. Given that LGI Homes regularly posts the strongest growth and the best gross margin in the group, the analyst believes that valuation is achievable now that it has finally crossed over to Closings growth despite the difficult comps. East also raised his price target on the shares to $58 from $44.
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