Topeka Capital Starts KB Home (KBH) at Hold
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Price: $24.08 +0.84%
Rating Summary:
7 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade KBH Now!
Topeka Capital initiates coverage on KB Home (NYSE: KBH) with a Hold. PT $17.00.
The firm comments, "KB Home has outlined a plan to profitability, but we remain concerned that restrictive mortgage financing for entry-level buyers, which we believe accounts for 70% of KBH's business, may delay the timing of that plan. Beyond the potential macroeconomic catalysts, we do not see another pending catalyst for the name, and as a result, we view the shares as fairly valued at current levels."
For an analyst ratings summary and ratings history on KB Home click here. For more ratings news on KB Home click here.
Shares of KB Home closed at $14.17 yesterday, with a 52 week range of $6.17-$17.30.
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The firm comments, "KB Home has outlined a plan to profitability, but we remain concerned that restrictive mortgage financing for entry-level buyers, which we believe accounts for 70% of KBH's business, may delay the timing of that plan. Beyond the potential macroeconomic catalysts, we do not see another pending catalyst for the name, and as a result, we view the shares as fairly valued at current levels."
For an analyst ratings summary and ratings history on KB Home click here. For more ratings news on KB Home click here.
Shares of KB Home closed at $14.17 yesterday, with a 52 week range of $6.17-$17.30.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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