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Fly News Breaks for November 1, 2019
Nov 1, 2019 | 06:30 EDT
JMP Securities analyst Peter Martin downgraded TRI Pointe to Market Perform from Outperform, saying that after the recent appreciation in the stock price following "solid" Q3 results as well as year-to-date, shares are now "fairly valued". The analyst further notes that the company's Q4 guidance was lower than he expected in terms of deliveries and leverage due to the timing higher-margin deliveries in California being pulled into Q3, though he does not expect this to impact TRI Pointe's FY19 targets.
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