CalAtlantic reinstated with Overweight, added to Focus List at JPMorgan JPMorgan analyst Michael Rehaut reinstated CalAtlantic Group (CAA) with an Overweight rating and added the stock to his firm's Equity Analyst Focus List. Rehaut has a $56 price target for shares. The homebuilder offers investors "solid" geographic diversity and "strong" positioning in many core markets, the analyst tells investors in a research note. CalAtlantic is the renamed merged entity of Standard Pacific (SPF) and Ryland Group (RYL).
Standard Pacific to host special shareholder meeting Special Shareholder Meeting to vote on the merger with The Ryland Group, whereby Standard Pacific will continue as the surviving corporation under the name CalAtlantic Group, will be held in Irvine, California on September 28 at 1:30 pm.