Truist lowered the firm's price target on Taylor Morrison to $72.50 from $80 and keeps a Buy rating on the shares after its agreement to sell to Berkshire Hathaway (BRK.A, BRK.B) for $72.50 per share. This values the shares at about 1.1-times on price-to-book basis and also helps to establish a floor on group multiples given the brewing consolidation story, the analyst tells investors in a research note. Truist adds it will now look to Meritage Homes (MTH) and KB Homes (KBH) as potential acquisition targets, as both trade below one-times on price-to-book basis .
