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Lumber Liquidators Jumps After Strong New Home Sales, Stock Upgrade

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By Christiana Sciaudone

Investing.com -- Lumber Liquidators (NYSE:LL) shares jumped more than 25% on Tuesday after getting an upgrade and amid strong new home sales.

Shares are trading at their highest in more than two years. They closed at $17.20.

The company was upgraded to buy from hold by Loop Capital, which also bumped up its price target to $18 from $11, Briefing.com reported.

Additionally, a survey by John Burns Real Estate Consulting showed that new home sales in June jumped 55%, CNBC reported.

Last week, Taylor Morrison (NYSE:TMHC) reported that June was its best sales month in company history, with a 94% increase in net sales orders year-over-year.

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