UBS Maintains a 'Buy' on Beazer Homes (BZH); Thesis Remains Intact Despite Results
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Price: $22.25 +3.63%
Rating Summary:
6 Buy, 6 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 6 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade BZH Now!
UBS maintains a 'Buy' on Beazer Homes (NYSE: BZH), PT lowered from $6 to $5.50.
UBS analyst says, "Reflecting the results this Q & our expectations for reduced leverage going forward, we’re lowering our F11E EPS to ($1.55) from ($1.30); F12E goes to ($0.80) from ($0.40). Given these changes, our PT goes to $5.50 off a lower trough BV. Despite this, we believe further significant BV erosion is unlikely given mgmt’s efforts through the downturn; as such, we’re raising our multiple to 1.0x from 0.9x off a higher ROE. We maintain our rating given our belief that BZH’s valuation gap vs. peers will narrow as conditions improve."
For more ratings news on Beazer Homes click here and for the rating history of Beazer Homes click here.
Shares of Beazer Homes closed at $4.33 yesterday, with a 52 week range of $3.10-$7.08.
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UBS analyst says, "Reflecting the results this Q & our expectations for reduced leverage going forward, we’re lowering our F11E EPS to ($1.55) from ($1.30); F12E goes to ($0.80) from ($0.40). Given these changes, our PT goes to $5.50 off a lower trough BV. Despite this, we believe further significant BV erosion is unlikely given mgmt’s efforts through the downturn; as such, we’re raising our multiple to 1.0x from 0.9x off a higher ROE. We maintain our rating given our belief that BZH’s valuation gap vs. peers will narrow as conditions improve."
For more ratings news on Beazer Homes click here and for the rating history of Beazer Homes click here.
Shares of Beazer Homes closed at $4.33 yesterday, with a 52 week range of $3.10-$7.08.
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