Cavco Industries price target raised to $455 from $425 at Wedbush

Wedbush analyst Jay McCanless raised the firm’s price target on Cavco Industries to $455 from $425 and keeps an Outperform rating on the shares. The next catalyst for Cavco should be the Q2 results in early November, the analyst tells investors in a research note. The hurricanes at the end of Q2 and beginning of Q3 may delay some shipments and could add more delays in the forms of utility and roadway outages, but they should prove temporary in terms of the EPS impact, the firm says. Wedbush is comfortable with a more conservative EPS outlook into the print versus consensus.