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Wedbush upgrades TRI Pointe to Outperform, raises price target to $43

As previously reported, Wedbush analyst Jay McCanless upgraded TRI Pointe (TPH) to Outperform from Neutral with a price target of $43, up from $38. The firm believes TRI Pointe’s consistent share repurchase, what it sees as achievable FY25 guidance, and resilient demand from move up and active adult buyers are all catalysts for the name. Wedbush notes that it has been focused on the theme of owning companies with a move up/active adult exposure since late 2024, and it believes TRI fits into that thesis. The firm anticipates the community gap out issues that were a problem in FY24 should not be an issue in the next seven quarters.

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