As previously reported, Wedbush analyst Jay McCanless upgraded PulteGroup (PHM) to Outperform from Neutral with a $135 price target arguing that the recent decline in share price appears “overdone.” Shares have retreated about 27% since hitting an all time high on October 18, notes the analyst, who also cites Pulte’s “favorable” customer mix, consistent share buybacks and “pristine balance sheet.”
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Read More on PHM:
- PulteGroup upgraded to Outperform from Neutral at Wedbush
- Virtu activist Pulte Family supports sale to Apollo Global
- PulteGroup price target lowered to $140 from $165 at Wells Fargo
- PulteGroup price target lowered to $155 from $162 at JPMorgan
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