WCI communities initiated at JPMorgan with a Neutral; shares lower
Aug 21 2013, 15:54 ET
WCI Communities (WCIC) slips on a tepid initiation from JPMorgan today with a Neutral rating and a $20.50 price target. This runs counter to FBR Capital, who also initiated the shares today with Outperform rating. FBR says that owning WCIC gives investors "rifle access" into the state of Florida, as well as an opportunity to own one of the lowest-cost land portfolios in the public homebuilding sector.