Meritage Homes price target lowered to $155 from $170 at Wedbush

Wedbush lowered the firm’s price target on Meritage Homes to $155 from $170 and keeps a Neutral rating on the shares. The firm anticipates 2024 could be a rebuilding year in community count and gross margins for Meritage due to faster than expected closeouts and a shift to higher cost land, the analyst tells investors in a research note.