JP Morgan Say KB Home a Good Deal At Current Valuation (KBH)

J.P. Morgan released a research report on KB Homes (NYSE: KBH) this morning, maintaining their Overweight rating on the company amid a mixed bag of news.

The report said that KB Home's orders decline was below expected estimates at 39%. In addition, the selling, general and administrative expenses (SGA) are below expectations, at 15.8%. That puts it lower than J.P. Morgan's estimates as well as the SGA from last year.

It went on to state that KB Home's valuation, “trading at a 23% discount compared to its peers,” is attractive given efforts such as its Open Series community program.

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