Goldman Sachs Upgrades PulteGroup (PHM) to Neutral

Goldman Sachs upgraded PulteGroup (NYSE: PHM) from Sell to Neutral with a price target of $18.50 (unchanged).

Analyst Eli Hackel said, "We think that the homebuilder’s lack of growth is well understood and that upside and downside is now more balanced. We think the builder is closer to community count inflection given recent data, and its strong cash flows have translated into strength of balance sheet. Pulte has one of the strongest net absorptions per community growth rates in the industry and has been able to show margins growth as they have shifted to higher margin communities (e.g., Del Webb)."

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 $17.59 yesterday.

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• Summit Insights Downgrades Silicon Labs (SLAB) to Hold, 'expect its stock to be an inline performer'
• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'