Compass Point upgraded Beazer Homes (NYSE: BZH) from Neutral to Buy with a price target of $25.00 (from $24.00).

Analyst Wilkes Graham comments, "Even with BZH's post-earnings +4% move in the stock, the Company is still down 20% YTD despite another quarter of solid progress in its "2B-10" plan including an EBITDA guidance increase. We believe that BZH's continued progress towards its multi-year plan to reach $2B in revenue and 10% EBITDA margins will trump any overhang in the stock that might be attributed to risks associated with the company's exposure to first-time homebuyers. Furthermore, with BZH currently trading well under book (73% of our 2015 tangible book estimate of $27.08, including about $13/share in DTA), we believe the stock is very cheap relative to its peers and warrants investor attention."

For an analyst ratings summary and ratings history on Beazer Homes click here. For more ratings news on Beazer Homes click here.

Shares of Beazer Homes closed at $19.80 yesterday.