Wedbush Starts PulteGroup (PHM) at Underperform

September 20, 2016 7:12 AM EDT
Get Alerts PHM Hot Sheet
Price: $19.12 +0.95%

Rating Summary:
    12 Buy, 10 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wedbush initiates coverage on PulteGroup (NYSE: PHM) with a Underperform rating and a price target of $16.00.

Analyst Jay McCanless commented, "We are initiating coverage of PulteGroup (PHM) with an UNDRPERFORM rating and a $16 price target. At its current valuation of 1.3x our FY17E book value per share (BVPS) of $15.81, PHM trades above the group average valuation of 1.0x. We believe the shares already reflect any potential benefit from the sweeping changes of the last nine months and do not see a nearterm catalyst for the shares."

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

Shares of PulteGroup closed at $19.87 yesterday.

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