As previously reported, Wedbush analyst Jay McCanless upgraded LGI Homes to Neutral from Underperform with a price target of $125, up from $97. The firm’s catalysts include the sequential improvement in monthly absorption from July to August, the 12% pullback from July 30 to September 6 in LGI’s share price, the potentially positive cash flow reversal, and the steady declines in mortgage rates thus far in Q3.
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