TRI Pointe downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded TRI Pointe (TPH) to Peer Perform from Outperform without a price target While the shares trade at a discounted valuation, the company’s reduced spec builds “interrupts” the equity story in the near-term, the analyst tells investors in a research note. The firm now forecasts earnings declines for the next several quarters.