- 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.
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