MKM Upgrades Ryland (RYL), KB Home (KBH); Says Housing is Bottoming
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Price: $40.83 --0%
Rating Summary:
11 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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MKM Partners' Megan Talbott McGrath upgraded shares of Ryland (NYSE: RYL) and KB Home (NYSE: KBH) to Buy and Neutral, respectively, Tuesday. Given sharp downside in the homebuilding sector, however, these stocks are getting crushed this afternoon. The SPDR S&P Homebuilders ETF (NYSE: XHB) is down 3.4 percent at last check. Shares of Ryland are down 4.7 percent while shares of KB Home are down 5.6 percent.
The analyst maintains a $10 price target on KB Home shares and a $22 price target on shares of Ryland.
McGrath believes housing is currently in the bottoming process. She feels investor expectations are now becoming more inline with reality.
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The analyst maintains a $10 price target on KB Home shares and a $22 price target on shares of Ryland.
McGrath believes housing is currently in the bottoming process. She feels investor expectations are now becoming more inline with reality.
Check out our Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.
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