Oppenheimer upgraded TRI Pointe Homes to Outperform from Perform with a $36 price target. The stock is down 13% since mid-July, presenting an attractive entry point to own “one of the most compelling growth stories in the sector,” the analyst tells investors in a research note. The firm says TRI Pointe should report earnings and closings growth above the sector average next year, mostly due to a higher community count. These communities are opening in newer markets for the company and thus should benefit margin, contends Oppenheimer.
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