Goldman Sachs Resumes Beazer Homes (BZH) at Neutral
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Goldman Sachs Starts Taylor Morrison Home (TMHC) at Neutral
June 24, 2013 8:24 AM EDTGoldman Sachs initiates coverage on Taylor Morrison Home (NYSE: TMHC) with a Neutral. PT $27.00.
The analyst comments, "Taylor Morrison has presence in the most constructive housing markets in the US, and we believe the company has been gaining share in these... More
Goldman Sachs Starts NVR Inc. (NVR) at Neutral
June 24, 2013 8:21 AM EDTGoldman Sachs initiates coverage on NVR Inc. (NYSE: NVR) with a Neutral. PT $930.00.
The analyst comments, "We prefer the company's "social contract" in the form of earnings-accretive buybacks, and one-third of the companys sales are driven by the well-positioned high-end buyer.... More
Goldman Sachs Starts M.D.C. Holdings (MDC) at Neutral
June 24, 2013 8:17 AM EDTGoldman Sachs initiates coverage on M.D.C. Holdings (NYSE: MDC) with a Neutral. PT $37.00.
The analyst comments, "MDC is in the later stages of its SG&A normalization plans. SG&A has grown just 10% during the last four quarters vs. a 57% increase in... More
Goldman Sachs Starts Lennar (LEN) at Neutral
June 24, 2013 8:14 AM EDTGoldman Sachs initiates coverage on Lennar (NYSE: LEN) with a Neutral. PT $36.00.
The firm commentsm "... we remain Neutral given the already premium valuation and the uncertainty that Rialto will add to earnings. Lennar is staffing up Rialto for future growth... More
Goldman Sachs Starts KB Home (KBH) at Neutral
June 24, 2013 8:10 AM EDTGoldman Sachs initiates coverage on KB Home (NYSE: KBH) with a Neutral. PT $20.00.
The analyst comments, "The company is in an operational turnaround that began during 2Q2012, and it has plenty of room for order growth in 2013. Further, the company has... More
Goldman Sachs Starts D.R. Horton (DHI) at Neutral
June 24, 2013 7:59 AM EDTGoldman Sachs initiates coverage on D.R. Horton (NYSE: DHI) with a Neutral. PT $22.00.
The analyst comments, "... we remain Neutral rated, on DHI as we prefer geographical presence in growth markets vs. DHI's primary exposure in the steady markets of Texas.... More
Goldman Sachs Resumes PulteGroup (PHM) at Sell
June 24, 2013 7:46 AM EDTGoldman Sachs resumes coverage on PulteGroup (NYSE: PHM) with a Sell. PT $18.00.
The analyst said, "We see growth lagging peers during the recovery driven by two factors: (1) Pulte ranks near the tail end of our geographical exposure matrix with presence in slower... More
Goldman Sachs Resumes Toll Bros. (TOL) at Buy
June 24, 2013 7:40 AM EDTGoldman Sachs resumes coverage on Toll Bros. (NYSE: TOL) with a Buy. PT $37.00.
"We resume coverage of Toll Brothers with a Buy rating, as we believe the company is ideally positioned in the luxury homebuilding market and we expect Toll to gain... More
Goldman Sachs Resumes Meritage Homes (MTH) at Buy
June 24, 2013 7:39 AM EDTGoldman Sachs resumes coverage on Meritage Homes (NYSE: MTH) with a Buy. PT $53.00.
"We believe the company's markets are witnessing the best sales/pricing dynamics while the company has an attractive land portfolio," the analyst said. "As a result, we... More
Goldman Sachs Resumes Ryland Group (RYL) at Conviction Buy
June 24, 2013 7:37 AM EDTGoldman Sachs resumes coverage on Ryland Group (NYSE: RYL) with a Conviction Buy List rating and $51 price target.
"The company ranks first on our themes, with presence in most constructive housing markets, a strong land portfolio, and relatively good exposure to the... More
Homebuilders Crushed Despite Strong Sales (TOL) (PHM) (KBH) (DHI)
June 20, 2013 1:32 PM EDTExisting homes sales data released on Thursday morning showed May sales totaled 5.18 million. This was ahead of consensus of 5 million and 4.2% higher than April sales. Sales levels reached their highest level since November of 2009. The data is clearly a positive, however, it may be too soon to know if higher mortgage rates have impacted the market, thinks Wells Fargo.
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