Cavco Industries price target raised to $495 from $422 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Cavco Industries (CVCO) to $495 from $422 and keeps a Buy rating on the shares. The firm continues to believe that manufactured housing is poised for share gains vs. site-built and sees Cavco as well positioned to capitalize on favorable market trends. Quarterly results were solid and growth should continue based on strong order activity/backlogs and operating leverage will translate into above average earnings growth, Craig-Hallum adds.