RBC Capital Downgrades Taylor Morrison Home (TMHC) to Sector Perform

RBC Capital analyst Mike Dahl downgraded Taylor Morrison Home (NYSE: TMHC) from Outperform to Sector Perform with a price target of $72.50.

The analyst comments: “We are downgrading TMHC to Sector Perform given our belief in a high probability of deal closure (TMHC stock closed today at $71.55, just a ~1% discount to deal price) as we see the probability of another bidder as unlikely. See our earlier note for our initial thoughts on the deal, views on a combined Clayton/TMHC, and broader thoughts on implications for the space. We see the deal as a solid outcome for TMHC shareholders, while the 'sprint for scale' amongst small-to-mid-sized builders is likely to continue, potentially providing more of a floor for SMID cap builder multiples.”

For an analyst ratings summary and ratings history on Taylor Morrison Home click here. For more ratings news on Taylor Morrison Home click here.

Shares of Taylor Morrison Home closed at $71.55 yesterday.

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