Wedbush upgraded Taylor Morrison (TMHC) to Outperform from Neutral with a price target of $85, up from $65. The firm says the company’s better than expected gross margin in Q3 and long-term gross margin outlook are catalysts to raise earnings estimates. Meanwhile, Taylor Morrison’s multiple buyer segments, especially lifestyle and move up buyers, are catalysts to achieve its fiscal 2025 volume and revenue targets, the analyst tells investors in a research note. In addition, Wedbush believes the company’s consistent share repurchase in fiscal 2024 and new $1B buyback announced are also catalysts for a more positive view on the shares.
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Read More on TMHC:
- Taylor Morrison upgraded to Outperform from Neutral at Wedbush
- Taylor Morrison price target raised to $77 from $74 at RBC Capital
- Taylor Morrison price target raised to $86 from $78 at BTIG
- Taylor Morrison price target raised to $75 from $72 at Barclays
- Taylor Morrison reports Q3 EPS $2.37, consensus $2.06