Wedbush Maintains Neutral Rating for Tri Pointe Homes: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wedbush has maintained its Neutral rating on Tri Pointe Homes (NYSE:TPH) but raised its price target from $32.00 to $35.00. TPH shares are currently up 3.71%, trading at $36.07. The new price target suggests a potential downside of 2.97%. Tri Pointe Homes is a residential construction company, with its largest revenue sources being California, Arizona, and Nevada, completing about 4,000 homes annually.
February 21, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Wedbush maintains Neutral on TPH, raises price target to $35. Shares up 3.71%, trading at $36.07. New target suggests a 2.97% downside.
The adjustment in price target by Wedbush, despite being an increase, sets the target below the current trading price of TPH shares, suggesting a potential short-term downside. This, combined with the Neutral rating, indicates that Wedbush does not foresee significant positive momentum in the near term, which could influence investor sentiment and potentially lead to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100