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UPDATE: Sterne Agee Reiterates On Meritage Homes On Valuation Shift

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In a report published Friday, Sterne Agee analyst Jay McCanless reiterated a Buy rating on Meritage Homes (NYSE: MTH), and raised the price target from $49.00 to $50.00.

In the report, Sterne Agee noted, “We are raising our price target to $50 from $49 as we shift our valuation focus to FY15 and add in our estimates for the Legendary acquisition. We are raising FY14E/FY15E EPS to $3.45/$4.38 from $3.27/$4.22 primarily from the Legendary deal. Also, we are initiating a FY16E EPS of $3.75.”

Meritage Homes closed on Thursday at $41.44.

Latest Ratings for MTH

DateFirmActionFromTo
Oct 2020Credit SuisseMaintainsOutperform
Oct 2020BTIGMaintainsBuy
Oct 2020JP MorganDowngradesOverweightNeutral

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