MKM Partners Raises PT on PulteGroup (PHM); Incremental Improvement, But Uncertainty Remains
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Price: $130.18 -0.28%
Rating Summary:
21 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 9 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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MKM Partners maintains a 'Neutral' on PulteGroup (NYSE: PHM) price target of $13.00 (from $12.00).
Analyst, Megan McGrath, said, "We are raising our fair value estimate on Pulte after a solid quarter allows us to raise our one-year forward book value estimate. While we are encouraged by the 2Q performance, especially around order and gross margin growth, we maintain our Neutral rating on the name. We believe that some unique near-term risks and uncertainties remain for PHM, including execution risks for several of its new strategies, uncertainty around its deferred tax asset and persistent mortgage putback concerns. We could become more constructive on the name if some of these uncertainties are lifted over time."
"We are raising our 2H12 EPS forecast to $0.44 from $0.33 and our FY13 forecast to $0.83 from $0.62."
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 $10.02 yesterday.
Analyst, Megan McGrath, said, "We are raising our fair value estimate on Pulte after a solid quarter allows us to raise our one-year forward book value estimate. While we are encouraged by the 2Q performance, especially around order and gross margin growth, we maintain our Neutral rating on the name. We believe that some unique near-term risks and uncertainties remain for PHM, including execution risks for several of its new strategies, uncertainty around its deferred tax asset and persistent mortgage putback concerns. We could become more constructive on the name if some of these uncertainties are lifted over time."
"We are raising our 2H12 EPS forecast to $0.44 from $0.33 and our FY13 forecast to $0.83 from $0.62."
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 $10.02 yesterday.
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