Barclays Raises Price Target on KB Home (KBH); Best Defense Is a Good Offense

July 3, 2012 12:26 PM EDT
Get Alerts KBH Hot Sheet
Price: $16.35 +0.86%

Rating Summary:
    5 Buy, 20 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Barclays maintains an 'Overweight' on KB Home (NYSE: KBH) price target of $11.00 (from $10.00).

Analyst, Stephen Kim, said, "Following KB Home's conference call, we are revising estimates and raising our price target to reflect a higher target price/book multiple....The most interesting aspect of the call for us was management's indication that they were "going on offense."

Kim recognizes that the company still faces challenges and that KBH needs to execute effectively in order to realize revenue growth and improved margins. Shares have jumped in the past few trading sessions, Kim believes it was from short covering (over 50% of float is short as of June 15)

For an analyst ratings summary and ratings history on KB Home click here. For more ratings news on KB Home click here.

Shares of KB Home closed at $9.67 yesterday.

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