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Fly News Breaks for January 7, 2020
MHO
Jan 7, 2020 | 13:50 EDT
Wedbush analyst Jay McCanless says M/I Homes pre-released Q4 volume details as well as the average backlog price for the quarter and that order growth was more than double his estimate at 43% year-over-year growth versus his 20% forecast. However, at share current levels, M/I share price reflects this good news, McCanless tells investors in a research note. The analyst keeps a Neutral rating on the shares with a $45 price target. He increased his fiscal 2020 earnings per share estimate to $5.32 from $5.14 and 2021 estimate to $5.92 from $5.73.
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