KeyBanc Upgrades PulteGroup (PHM) to Buy; Sustained Job Growth

KeyBanc upgraded PulteGroup (NYSE: PHM) from Hold to Buy.

KeyBanc analyst said, "Upgrading PulteGroup to BUY, largely tied to our improving outlook for housing demand as sustained local job growth (Local Job-to-Permit Analysis: Austin to Zener, April 13, 2012) supports our shift to fundamental growth vs. our prior trading range. PHM is our most cyclical call with company operations still improving related to costs, but our favorable rating reflects a more favorable treatment of its large DTA ($2.5 billion vs. $1.9 billion equity) as earnings recover."

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 $8.66 yesterday.

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