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Fly News Breaks for February 24, 2020
LGIH
Feb 24, 2020 | 08:48 EDT
BTIG analyst Carl Reichardt raised his price target on LGI Homes to $68 to reflect the recent stock price appreciation and its better than expected initial 2020 guidance, but also keeps his Sell rating due to the excessively high valuation on the stock. The analyst notes that his bearish call has not worked, but he still does not expect the company's margin outlook to improve materially and also see potential volatility to its forward growth rates. Reichardt further states that LGI Homes shares trade at a 50% premium to its peer group.
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