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UPDATE: Sterne Agee Initiates NVR with Buy Rating, $1,100 PT on Share Undervalue

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In a report published Tuesday, Sterne Agee analyst Jay McCanless initiated coverage on NVR (NYSE: NVR) with a Buy rating and $1,100.00 price target.

In the report, McCanless noted, “We view NVR as a consistently profitable homebuilder, and at current levels, we view the shares as undervalued for investors with a long-term time horizon. Our $1,100 price target represents an approximate 15.0x P/E multiple on our FY14E EPS of $74.77. We are valuing NVR at the bottom of our 15.0x to 20.0x FY14 P/E range because we expect NVR's strategic avoidance of standing inventory may result in uneven near-term order growth in a supply-starved housing market. On a longer-term basis, we view the shares as undervalued at current levels assuming additional housing supply enters the market later in the cycle.”

NVR closed on Tuesday at $1,002.99.

Latest Ratings for NVR

Feb 2017BTIG ResearchInitiates Coverage OnNeutral
Dec 2016Bank of AmericaUpgradesNeutralBuy
Sep 2016Wells FargoInitiates Coverage onMarket Perform

View More Analyst Ratings for NVR
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Initiation Analyst Ratings


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