Green Brick price target raised to $62 from $59 at B. Riley

B. Riley analyst Alex Rygiel raised the firm’s price target on Green Brick to $62 from $59 and keeps a Neutral rating on the shares. Record gross margin propelled a Q1 EPS beat, as a gross margin of 34% was “well ahead” of the firm’s 28.4% estimate and the high end of peers, the analyst tells investors. The firm is raising 2024 and 2025 EPS estimates and reiterates Neutral on valuation, but “with a positive bias.”