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UPDATE: Bank of America Initiates Standard Pacific with Buy on Multiple Positive Factors

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UPDATE: Bank Of America Downgrades Standard Pacific Corp.
Benzinga's Top Downgrades

In a report published Wednesday, Bank of America analyst Michael A. Roxland initiated coverage on Standard Pacific Corp. (NYSE: SPF) with a Buy rating and $11.00 price target.

In the report, Bank of America noted, “We rate SPF a Buy. SPF's focus on move-up and luxury homebuyers and long land position in land constrained markets offer it a competitive advantage. SPF's stronger order growth versus peers, growing end markets, and geographic exposure should allow the company to continue to generate industry leading gross margins. Moreover, margins should expand as the company grows its community count.”

Standard Pacific Corp. closed on Tuesday at $8.37.

Latest Ratings for SPF

DateFirmActionFromTo
Nov 2014Bank of AmericaDowngradesBuyNeutral
Oct 2014Compass PointMaintainsBuy
Sep 2014JP MorganDowngradesNeutralUnderweight

View More Analyst Ratings for SPF
View the Latest Analyst Ratings

Posted-In: Bank of America Michael A. RoxlandAnalyst Color Initiation Analyst Ratings

 

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