TRI Pointe price target raised to $35 from $32 at Wedbush

Wedbush raised the firm’s price target on TRI Pointe to $35 from $32 and keeps a Neutral rating on the shares. The firm notes TRI’s FY24 unit closing outlook was approximately 11% higher than its prior estimate. Housing demand regained momentum in December and that momentum carried through January and into February, Wedbush adds. As a result, Wedbush raised its revenue and EPS estimates for FY24 and FY25.