UBS Raises PT and Estimates on PulteGroup (PHM); Reasons For Optimism...We Got 'Um
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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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UBS maintains a 'Neutral' on PulteGroup (NYSE: PHM) price target of $11.00 (from $9.00).
Analyst, David Goldberg, said, "We were impressed with Pulte’s 2Q results, as relative underperformance continues to narrow. Further, we found reasons for optimism, including: 1) profitability should accelerate as an increasing percentage of deliveries benefit from mgmt’s value creation initiatives; 2) we expect Pulte to generate FCF in the early part of the recovery, driven by its large land position and Del Webb; & 3) management is committed to maximizing return on capital—eschewing growth for growth’s sake—incorporating a risk based model for land acquisitions."
FY12 EPS estimate raised from $0.15 to $0.25 and FY13 fro $0.50 to $0.65.
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 $11.04 yesterday.
Analyst, David Goldberg, said, "We were impressed with Pulte’s 2Q results, as relative underperformance continues to narrow. Further, we found reasons for optimism, including: 1) profitability should accelerate as an increasing percentage of deliveries benefit from mgmt’s value creation initiatives; 2) we expect Pulte to generate FCF in the early part of the recovery, driven by its large land position and Del Webb; & 3) management is committed to maximizing return on capital—eschewing growth for growth’s sake—incorporating a risk based model for land acquisitions."
FY12 EPS estimate raised from $0.15 to $0.25 and FY13 fro $0.50 to $0.65.
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 $11.04 yesterday.
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