Goldman Sachs Resumes Ryland Group (RYL) at Conviction Buy PT$51
Goldman Sachs resumes coverage on Ryland Group (NYSE: RYL) with a Conviction Buy List rating and $51 price target.
"The company ranks first on our themes, with presence in most constructive housing markets, a strong land portfolio, and relatively good exposure to the high-end buyer," the analyst said. "Further, we believe Ryland has one of the best capital structures in our coverage leading to a peer-high ROE of 21.5% for 2013."
Goldman notes Ryland has a strong presence in the Charlotte, Orlando, Phoenix, and Indianapolis markets, the strongest markets in terms of pricing strength, household formation, and job growth.