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Fly News Breaks for November 9, 2016
TPH
Nov 9, 2016 | 08:59 EDT
After Tri Pointe's stock fell about 12% since it announced its Q3 results, Wedbush analyst Jay McCanless says that the decline is overdone. He expects the company to benefit from community growth in the high single digit percentage range in 1H17, enabling its orders to jump 7.2% during fiscal 2017. The analyst keeps a $17 price target and an Outperform rating on the shares. He recommends buying the stock ahead of the company's November 10 Investor Day.
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