Cavco Industries downgraded at Wedbush after price target achieved

As previously reported, Wedbush downgraded Cavco Industries (CVCO) to Neutral from Outperform with an unchanged price target of $480. With Cavco shares up 49% year-to-date through December 2 and having moved through the firm’s unchanged target, the firm believes the shares reflect the stock repurchase and backlog growth catalysts and does not see a new catalyst to raise its target further, the analyst tells investors.