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Posted by
Two Blokes May 28, 2025 -
Filed in
Stock
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7 views
We initiate on LGI Homes at Strong Buy, reflecting conviction in the company's discipline on margins, and outsized community growth in high-demand US markets. Our price target of US$123 is set at 8x EBITDA multiple on our FY26E estimate, reflecting a balance of near-term margin headwinds and long-term operational scale. We estimate EBITDA growth of +40% in FY25E and +20% in FY26E on +22% community count growth and a strong backlog.
