Wedbush Starts KB Home (KBH) at Outperform
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Wedbush initiates coverage on KB Home (NYSE: KBH) with a Outperform rating and a price target of $22.00.
Analyst Jay McCanless commented, "We are initiating coverage of KB Home with an OUTPERFORM rating and a $22 price target. KB is scheduled to release F3Q16 (August quarter end) EPS after market close on September 20th with a conference call that afternoon, and we are slightly ahead of consensus EPS for the quarter. With a 52% first-time buyer exposure as of F2Q16, we believe any loosening of lending standards could benefit this portion of KBH’s business."
Shares of KB Home closed at $15.30 yesterday.
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