Citi Initiates Coverage on KB Home (KBH) with a Hold
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Citi initiates coverage on KB Home (NYSE: KBH) with a Hold. Price target $19.50.
Citi analyst says, "KBH should be well positioned to return to profitability before many of its peers given its short land position. Management has done much to strengthen the balance sheet and the company's near-term liquidity is modestly above average. However, with few company specific catalysts on the horizon and a valuation close to our target price, we think there is limited upside from the current price."
KB Home is a builder of single-family homes, townhomes and condominiums. The Company operates in Arizona, California, Colorado, Florida, Georgia, Illinois, Maryland, Nevada, New Mexico, North Carolina, South Carolina, Texas and Virginia.
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