TRI Pointe price target raised to $42 from $41 at Evercore ISI

Evercore ISI analyst Stephen Kim raised the firm’s price target on TRI Pointe to $42 from $41 and keeps an Outperform rating on the shares after the company reported a Q4 earnings beat, driven by better-than-expected gross margins. TRI Pointe reported “a strong quarter,” particularly with respect to margins, while guidance for Q1 and FY24 were “largely better than feared,” says the analyst, who raised FY24 and FY25 adjusted EPS estimates following the Q4 report.