Evercore ISI Group Downgrades M.D.C. Holdings to In-Line, Raises Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Stephen Kim downgraded M.D.C. Holdings (NYSE:MDC) from Outperform to In-Line but increased the price target from $57 to $63.
January 31, 2024 | 3:15 pm
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NEUTRAL IMPACT
Evercore ISI Group downgraded M.D.C. Holdings to In-Line, indicating a neutral outlook, but raised the price target to $63, suggesting a potential upside.
The downgrade to In-Line suggests that Evercore ISI Group sees M.D.C. Holdings performing on par with the market, which could temper investor enthusiasm. However, the increase in the price target to $63 implies that the analyst sees some positive aspects that could drive the stock's price up. The mixed nature of this news may result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100