Compass Point Sees 23% Upside in PulteGroup (PHM)

November 29, 2012 10:12 AM EST Send to a Friend
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Price: $18.90 -1.66%

Rating Summary:
    12 Buy, 7 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 14 | New: 52
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Compass Point reiterated a Buy rating on PulteGroup (NYSE: PHM) and raised its price target to $21.00 (from $19.00).

"We remain positive on earnings fundamentals, and see material upside in shares of PHM despite what is a fairly valued sector overall," said analyst Wilkes Graham.

"The company is still subject to mortgage repurchase requests, however we believe that potential future reserve increases will be minimal on a present value basis based on management's recent guidance and our own past research," added Grahm.

Assuming fiscal cliff concerns don’t materialize, Graham thinks there is another 23 percent in upside for PulteGroup stock near term.

For an analyst ratings summary and ratings history on PulteGroup (NYSE: PHM) click here. For more ratings news on PulteGroup click here.

Shares of PulteGroup closed at $17.00 yesterday.




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