TRI Pointe price target raised to $42 from $38 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on TRI Pointe to $42 from $38 and keeps an Outperform rating on the shares. The company’s Q1 earnings beat and Q2 guidance upside were driven by solid demand and net year-to-date improvement in price and incentives, the analyst tells investors in a research note. These trends are encouraging, particularly with valuation inexpensive at 1.2-times the current tangible book value, the firm added.