M/I Homes Shares Rise After Wedbush Upgrade

MT Newswires Live

2024/11/05

M/I Homes (MHO) shares were up 4.5% in recent Monday trading after Wedbush upgraded the company's stock to outperform from neutral and raised the price target to $185 from $155.

Wedbush said in a note the company indicated during an earnings call that business activity in October exceeded expectations amid improving backlog prices and resilient demand among move up buyers.

The firm lifted its Q4 earnings estimate to $5.16 from $5.05 and revenue forecast to $1.2 billion from $1.1 billion.

Trading volume was around 142,000 shares against a daily average of roughly 310,000 shares.

Price: 157.05, Change: +6.82, Percent Change: +4.54

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