Meritage Homes price target raised to $85 from $79 at BofA

BofA raised the firm’s price target on Meritage Homes (MTH) to $85 from $79 and keeps a Buy rating on the shares. The firm is updating its price targets for homebuilders under its coverage, the analyst tells investors. BofA believes the recent Fed cut is unlikely to meaningfully change the near-term trajectory of the housing market.