MDC Holdings (MDC) through its subsidiary Richmond American Homes builds new single family homes in various regions of the country and provides mortgage services as well. We initiate a BUY recommendation as we believe company shares have the potential to appreciate by 50% in the next 12 months. MDC is entering the upscale housing market that, if profitable, could potentially lead the way to further development in this direction. The company could also see a revenue boost and better market share due to implementations of new standard energy features that separates itself from competition.
According to CEO Larry Mizel: "Across the country, we have continued to acquire land in an accelerated pace. During the second quarter,...
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