Wedbush raised the firm’s price target on Century Communities (CCS) to $96 from $90 and keeps a Neutral rating on the shares. Century’s outlook for volume growth in FY25 and beyond was double the firm’s previous unit growth assumptions. Despite this good news, Wedbush is taking a more conservative approach to its FY25 and FY26 gross margin outlook based on the Q3 2024 gross margin miss versus its forecast and the potential for a lower gross margin in Q4 2024 versus its prior estimate.
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Read More on CCS:
- Century Communities price target raised to $119 from $113 at B. Riley
- Century Communities raises FY24 home sales view to $4.3B-$4.4B from $3.8B-$4.2B
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