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

by Shivani Kumaresan, Benzinga Staff Writer

October 22, 2021 1:45 PM | 1 min read | Make a Comment

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.