Wedbush downgrades Century Communities to Underperform, lowers target to $82

As previously reported, Wedbush downgraded Century Communities to Underperform from Neutral with a price target of $82, down from $92. The firm notes 2024 has been the most “normal” year seen for the home building industry since 2019 in terms of normal seasonality. Consequently, Wedbush believes these names could see a normal seasonal stock price decline into the summer especially after the seasonal trade window closes in April/May.