UBS maintains a 'Neutral' on KB Home (KBH); Reducing PT to Reflect Lower Profitability

UBS maintains a 'Neutral' on KB Home (NYSE: KBH), price target lowered from $11 to $7.

UBS analyst says, "Although Concerns Are Likely Overdone, We Remain Cautious - Since 7/19, KBH -29%, well ahead of the -19% group avg, driven by concerns around the robustness of its capital structure. Although these worries are likely overdone, we’re reducing our PT to $7 from $11, reflecting our view that profitability will remain below peers as new home sales “bounce” along the bottom before eventually recovering. Our Neutral rating is unchanged as we believe the current valuation appropriately reflects this potential underperformance."

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

Shares of KB Home closed at $6.74 yesterday.

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