KeyBanc Upgrades Ryland Group (RYL) to Sector Weight

KeyBanc upgraded Ryland Group (NYSE: RYL) from Underweight to Sector Weight. Earlier Ryland Group announced a merger with Standard Pacific (NYSE: SPF).

Analyst Kenneth R. Zener said, "The Ryland Group, Inc.'s announced merger of equals with Standard Pacific Corp. represents a material shift in its business profile, resulting in our rating upgrade to Sector Weight. We think the merger benefits RYL by increasing its footprint to reflect national trends, specifically CA. We will calculate pro forma estimates as the deal close approaches, but think the increased western exposure assists RYL's long-term prospects."

For an analyst ratings summary and ratings history on Ryland Group click here. For more ratings news on Ryland Group click here.

Shares of Ryland Group closed at $42.79 yesterday.

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