TRI Pointe price target raised to $47 from $31 at RBC Capital

RBC Capital raised the firm’s price target on TRI Pointe (TPH) to $47 from $31 and keeps a Sector Perform rating on the shares. The firm cites the company having announced it has entered into a definitive agreement to be acquired by Sumitomo Forestry at $47 per share, and it believes the deal has a very high likelihood of consummation, the analyst tells investors in a research note.