Green Brick price target raised to $53 from $49 at Wedbush

Wedbush raised the firm’s price target on Green Brick to $53 from $49 and keeps a Neutral rating on the shares. Green Brick raised prices at two-thirds of communities during the quarter while lowering incentives, and Wedbush believes those tailwinds and steady demand at the higher margin infill communities drove the 580 basis points of year over year gross margin improvement to 33.4%, the analyst tells investors in a research note.