Meritage Homes price target lowered to $80 from $85 at BofA

BofA lowered the firm’s price target on Meritage Homes (MTH) to $80 from $85 and keeps a Buy rating on the shares. Housing demand has been sluggish and incentives are still elevated, notes the analyst, who believes policy uncertainty is an overhang to multiples in the space. The firm lowered price targets on the homebuilders it covers by 6% on average as it expects sentiment to be hampered by policy uncertainty.