LGI Homes price target lowered to $75 from $140 at Citizens JMP

Citizens JMP analyst Aaron Hecht lowered the firm’s price target on LGI Homes (LGIH) to $75 from $140 and keeps an Outperform rating on the shares following the Q2 report. The earnings miss reflected lower operating margins and less contribution from other income, the analyst tells investors in a research note. The firm believes LGI is having a difficult time qualifying customers in the high-interest rate environment.