J.P. Morgan Reiterates Overweight Rating, $49.50 PT Following 4Q Conference Call - Meritage Homes (NYSE:MTH)

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In a report published Monday, J.P. Morgan reiterated its Overweight rating and $49.50 PT on Meritage Homes Corporation (NYSE: MTH).J.P. Morgan noted, “While MTH is currently trading at 1.93x adjusted P/B, roughly in-line with our universe average, we note that it trades at only 6.7x our 2016 Earnings Power, a 19% discount to our group average. We believe this does not properly reflect our outlook for above average order growth and strong EPS improvement in 2013, as well as its solid land and balance sheet positions. Hence, we rate MTH Overweight relative to its peers amid our positive sector stance.”Meritage Homes Corporation closed on Friday at $41.77.

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