KB Home price target raised to $70 from $65 at Wells Fargo

Wells Fargo raised the firm’s price target on KB Home (KBH) to $70 from $65 and keeps an Underweight rating on the shares following quarterly results. The firm says KB Home was a much-anticipated catalyst for the group. To that end, Wells expects KB Home and peers to outperform via better-than-expected results/guide. But questions persist, setting the stage for additional debate into D.R. Horton (DHI) earnings next week.