B. Riley Remains Bullish On Tri Pointe Homes, RBC Capital Gives An Upgrade

B. Riley Remains Bullish On Tri Pointe Homes, RBC Capital Gives An Upgrade
  • RBC Capital analyst Mike Dahl upgraded Tri Pointe Homes Inc TPH to Sector Perform from Underperform with a price target of $25, up from $22.
  • The analyst noted that the company's near-term outlook is looking relatively more balanced as stronger margins, continued buybacks, and an undemanding valuation offset TRI Pointe's order headwinds.
  • B. Riley analyst Alex Rygiel raised the firm's price target to $34 from $31 (suggesting 37% upside), reiterating a Buy rating.
  • The company's land position remains solid and it is acquiring lots for 2024 and beyond, while its shift to an asset-light strategy has resulted in a significant return on equity improvements, the analyst notes.
  • Price Action: TPH shares are trading higher by 3.47% at $24.76 on the last check Friday.

Posted In: BriefsAnalyst ColorNewsUpgradesPrice TargetReiterationAnalyst RatingsMoversTrading Ideas