UPDATE: Credit Suisse Initiates William Lyon Homes at Outperform on Strong Growth and Margin Expansion

In a report published Tuesday, Credit Suisse analyst Daniel Oppenheim initiated William Lyon Homes WLH at Outperform with a price target of $29.00.

In the report, Credit Suisse cited that its rating is based on, “our expectation for 1) best-in-class volume growth driven by 40% annualized growth in community count, and 2) significant margin expansion, resulting from its strong geographic positioning, with 82% of land investment in California and Arizona, where we see favorable demand and pricing.”

William Lyon Homes closed Monday at $23.96.