Evercore ISI Group Downgrades M.D.C. Holdings: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Evercore ISI Group has downgraded M.D.C. Holdings (NYSE:MDC) to In-Line, adjusting the price target from $57.00 to $63.00. MDC's shares are currently trading at $62.70, and the new price target suggests a modest increase of 0.48%. M.D.C. Holdings is a holding company that operates in home construction and financial services, with significant revenue from Colorado, California, Washington, and Arizona.
January 31, 2024 | 5:00 pm
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Evercore ISI Group downgraded M.D.C. Holdings to In-Line and raised the price target to $63.00. The stock is currently at $62.70, close to the new target.
The downgrade to In-Line suggests that Evercore ISI Group sees M.D.C. Holdings performing on par with the market, indicating a neutral outlook. The price target increase to $63.00 provides a very modest upside, which may not significantly impact the stock price in the short term. Given that the stock is already trading close to the target price, the immediate market reaction to this news may be muted.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100