FBR Capital Boosts PT on PulteGroup (PHM) to $24
FBR Capital raised its price target on Outperform-rated PulteGroup (NYSE: PHM) from $21 to $24 following Q4 results last Thursday.
The firm comments, "PulteGroup has been able to continue improving order volumes even while community count fell throughout the year. As more lower-margin communities come off-line, this should have a positive bias on margins as legacy communities roll off. Margin expansion through the company's "value engineering model" in 2013, coupled with expected community count growth in 2014, has PHM well positioned to continue outperforming peers. PHM continues to be levered to the nationwide housing recovery through its large national footprint and diverse product offerings."
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 $20.35 yesterday, with a 52 week range of $7.50-$21.97.
The firm comments, "PulteGroup has been able to continue improving order volumes even while community count fell throughout the year. As more lower-margin communities come off-line, this should have a positive bias on margins as legacy communities roll off. Margin expansion through the company's "value engineering model" in 2013, coupled with expected community count growth in 2014, has PHM well positioned to continue outperforming peers. PHM continues to be levered to the nationwide housing recovery through its large national footprint and diverse product offerings."
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 $20.35 yesterday, with a 52 week range of $7.50-$21.97.