As previously reported, Wedbush downgraded Meritage Homes to Underperform from Neutral with a price target of $148, down from $155. 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.
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