PulteGroup price target raised to $156 from $139 at BTIG

BTIG analyst Carl Reichardt raised the firm’s price target on PulteGroup (PHM) to $156 from $139 and keeps a Buy rating on the shares. The company’s Q3 earnings beat was driven by better delivery volume, slightly higher average selling prices, stronger financial services income, and a lower tax rate, slightly offset by a slightly lower operating margin than BTIG modeled, the analyst tells investors in a research note.