Goldman Sachs Upgrades PulteGroup (PHM) to Conviction Buy

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March 23, 2011 6:53 AM EDT
Get Alerts PHM Hot Sheet
Price: $129.00 +1.04%

Rating Summary:
    21 Buy, 9 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Goldman Sachs added PulteGroup (NYSE: PHM) to its Conviction Buy list with a $10 price target on Wednesday.

The analyst said PulteGroup is the "sole name across our universe where investors are already being paid to wait for the housing recovery."

Goldman notes the shares have significantly underperformed peers, down 38% over the 12 months, versus a 6% rise for peers and a 11% rise in the S&P. The stock now trades at a 25-40% discount to peers on key metrics.

For more ratings news on PulteGroup click here and for the rating history of PulteGroup click here.

Shares of PulteGroup closed at $7.14 yesterday.

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Goldman Sachs Conviction Buy List, Goldman Sachs, Standard & Poor's