I upgraded LGIH yesterday. Today, Wedbush:
LGI Homes upgraded to Outperform from Neutral at Wedbush Wedbush analyst Jay McCanless upgraded LGI Homes to Outperform with a $49 price target saying the 15% share decline since early August 8 discounts risk of potential delays in Houston closings. The analyst said sees risks to 2017 earnings as beneficial to 2018 and said mortgage underwriting standards are loosening which should benefit core customer base.
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In the short version, above, he doesn’t directly say that the price decline is over reaction; not the way Saul did. But I’ll take a small helping of confirmation bias, with a small price increase on the side.