UPDATE: Williams Financial Reiterates Buy Rating, Raises PT on Meritage Homes
In a report published Monday, Williams Financial Group reiterated its Buy rating on Meritage Homes Corporation (NYSE: MTH), and raised its price target from $34.00 to $41.00.
Williams Financial noted, “We continue to view MTH's industry leading energy platform and its remarkably well positioned land locations as key revenue growth drivers. The company has shown its ability to adapt to market conditions and deliver a quality product with significant value to the homebuyer. We are however somewhat concerned with the subdued growth Texas and believe this may constrain growth as other markets outside the company's current offerings begin the recovery cycle. The recent entry into the Carolinas helps abate some of these concerns in addition to the company's long land position in AZ, although we believe the company will need to continue expanding its footprint to deliver long-term growth opportunities.”
Meritage Homes Corporation closed on Friday at $37.78.
Latest Ratings for MTH
|Apr 2016||FBN Securities||Downgrades||Outperform||Sector Perform|
|Apr 2016||Sterne Agee||Downgrades||Buy||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.