UPDATE: ISI Group Upgrades Meritage Homes to Strong Buy Following Analyst Day

ISI Group upgraded Meritage Homes

from Buy to Strong Buy and raised the price target from $51.00 to $53.00. ISI Group noted, "We believe this management has created a strong, sophisticated operational platform that allows for useful growth both within current markets and into new markets. The MTH story is accelerating strongly with better earnings growth potential than most other builders. Further, the track-record on execution is such that they deserve a premium valuation. Combining those two issues, we raise our rating to Strong Buy, while moving our Price Target to $53 from $51." Meritage Homes closed at $44.01 on Friday.