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Fly News Breaks for September 10, 2019
WLH
Sep 10, 2019 | 06:47 EDT
As previously reported, JMP Securities analyst Peter Martin upgraded William Lyon Homes to Outperform with a price target of $23 while also maintaining his FY19 and FY20 EPS forecasts of $1.75 and $2.5. The analyst assigns a 1.0-times forward 12-month book value multiple to the stock, citing his expectations of a continued supportive interest rate environment and no recession expected to hit in 2020. Martin is also positive on William Lyon's "solid backlog conversion" and the success of its lower-priced offerings in key western state markets.
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