UPDATE: Goldman Sacks Downgraded Meritage Homes Corp. from Buy to Neutral
In a research note published Thursday, Goldman Sachs downgraded shares of Meritage Homes Corp. (NYSE: MTH) was from Buy to Neutral. Analyst Eli Hacke lowered MTH's price target from $54 to $51 on lowered 2014 estimates.
Meritage Homes lowered estimates are predicated on lower order growth, slower pricing ramp, and lower than previously modeled margins, according to Hacke.
The lowered estimates place Hacke's view on Meritage Homes now more in line with the consensus estimates.
MTH shares are trading up around 0.53 percent at $45.53 Thursday afternoon.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.