Champion Homes price target raised to $99 from $92 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Champion Homes (SKY) to $99 from $92 and keeps a Buy rating on the shares. The firm notes Champion Homes reported solid quarterly results, highlighted by strong gross margins and overall execution. While recent order activity has softened a bit due to hurricane-related impacts, election uncertainty and normal seasonality, Craig-Hallum assumption is that there is a significant pipeline and pent-up demand that is building in the background. With further potential for FEMA orders, the firm believes 2025 volumes could accelerate, even though its published estimates are more conservative for the time being.