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Fly News Breaks for October 15, 2019
TPH
Oct 15, 2019 | 06:46 EDT
RBC Capital analyst Michael Dahl upgraded TRI Pointe to Outperform from Sector Perform with a price target of $17, up from $15. The analyst believes the company will deliver stronger sales volumes and better margins amid improving housing demand, forecasting order growth of 20% in Q3 and 23% in Q4 - up from 14% and 20% previously - while anticipating order growth in 2020 to rise to 5.5%, up from 2% prior. Dahl also sees TRI Pointe as well positioned longer term given its "deep land portfolio and attractive cost basis in land-constrained California markets."
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