Cavco Industries price target raised to $357 from $310 at Craig-Hallum

Craig-Hallum analyst Greg Palm raised the firm’s price target on Cavco Industries to $357 from $310 and keeps a Buy rating on the shares. The firm notes that Cavco represents a pure-play investment on factory-built housing, an industry that remains well below normalized demand levels with a multitude of future growth drivers. Craig-Hallu, views Cavco as "a mini-Clayton Homes, by far the most successful company in the industry, which is owned by Warren Buffett’s Berkshire Hathaway Corporation." Exposure to both financing and insurance products allows for higher overall company margins and should allow the company to capitalize on these additional revenue and profit streams as industry demand continues to recover, the firm adds.