Smith Douglas Homes price target raised to $40 from $35 at Wells Fargo

Wells Fargo raised the firm’s price target on Smith Douglas Homes to $40 from $35 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the builders group. In builders, the firm urges “greater selectivity” on the back of recent outperformance, with the shares “embedding relief and potentially limiting upside.” In building products, Wells says the trough timing remains uncertain.