Benzinga | Dec 9, 2021 09:54PM EST

Wells Fargo Upgrades LGI Homes To Equal Weight

* Wells Fargo analyst Deepa Raghavan upgraded LGI Homes Inc (NASDAQ:LGIH) to Equal Weight from Underweight with a price target of $160, up from $125, implying a 0.82% upside.

* The analyst believes the stock and expectations reset materially post the Q4 earnings reported on November 2, and got further confirmation of fundamentals having bottomed out for LGI at the analyst day.

* The company reported a 40.7% increase in home sales revenue in Q3 of FY21.

* Price Action: LGIH shares are trading higher by 1.74% at $158.70 on the last check Thursday.