TRI Pointe price target raised to $32 from $29 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on TRI Pointe to $32 from $29 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The analyst also raises the firm’s FY24 EPS view by 35c to reflect higher orders and the company’s stepped up performance. TRI Pointe’s’ relative gross margin underperformance and more limited upward earnings revisions are also balanced out by a still-attractive valuation, the firm tells investors in a research note.