Forestar Group price target raised to $40 from $37 at BTIG

BTIG raised the firm’s price target on Forestar Group (FOR) to $40 from $37 and keeps a Buy rating on the shares. The company’s Q4 earnings beat was across the board, driven by higher sales and pricing, higher margins, and lower SG&A/sales, though partially offset by a higher tax rate than modeled, the analyst tells investors in a research note. The firm remains positive on Forestar’s value proposition that is seen as “very attractive given the supply/demand landscape”.