JPMorgan lowered the firm’s price target on KB Home (KBH) to $74.50 from $82 and keeps a Neutral rating on the shares after its Q4 results. The firm also cites the company having lowered its FY25 housing revenue guidance midpoint by 3% due to softer demand that KB Home experienced during the last two months of the quarter, the analyst tells investors in a research note. JPMorgan further notes that Q4’s softer trends have continued so far in Q1, with net orders during the first six weeks of the quarter down 12% from last year, reducing its FY25 and FY26 Operating EPS views to $8.30 and $9.32, respectively, from $8.92 and $10.28.
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