Wall Street Strategies Has Buy on Standard Pacific

Wall Street Strategies is out with a research report on Standard Pacific Corp.

and it has a Buy rating and a $4 price target on shares. In a note to clients, Wall Street Strategies writes, "On October 27, Standard Pacific reported its fiscal third quarter 2011 earnings results. The Company recorded revenue of $241.4 million, representing an increase of 16.6% year over year. The result fell short of the $265.0 million consensus estimate as well as our $249.0 million forecast. Home closings were up 16% year over year, while the average price per home sold increased by 3% to $346,000." Shares of SPF closed at $2.97 yesterday.