Wedbush lowered the firm’s price target on LGI Homes (LGIH) to $115 from $125 and keeps a Neutral rating on the shares. The firm notes Q4’s reported closings of 1,636 were below its 1,800 estimate and the Refinitiv consensus estimate of 1,757 homes. Wedbush believes the affordability challenges discussed on the Q3 2024 conference call and a volatile mortgage rate environment in Q4 2024 were likely demand headwinds for December 2024 and Q4 2024’s results. The firm continues to believe the community growth in FY24 should be a catalyst for unit closing growth in FY25 and FY26.
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Read More on LGIH:
- LGI Homes opens new community in Winston-Salem area
- LGI Homes announces milestone with 75,000th home closing
- LGI Homes price target lowered to $82 from $100 at JPMorgan
- LGI Homes closed 531 homes in November
- LGI Homes Announces $400M Senior Notes Offering
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
