Goldman Sachs Downgrades KB Home (KBH) to Sell

June 15, 2009 7:31 AM EDT

Goldman Sachs downgrades KB Home (NYSE: KBH) from Hold to Sell with a $12 price target, saying they are more cautious on builders after recent rate move. The firm also cites KBH's over-exposure to California.

KB Home constructs and sells homes in the United States.


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