Goldman Sachs Reiterates Buy Rating On PulteGroup
According to Goldman Sachs, PulteGroup (NYSE: PHM) Buy rating is reiterated.
Goldman Sachs said that Pulte is in the early stages of a turn-around that it expects will result in 300-500 bps of gross margins expansion, further cuts to SG&A dollars, and significantly tighter control of capital via lower land purchases in the future. “There is no change to our Street-high estimates; our $10 six-month target is P/E and P/B-based.”
PulteGroup closed yesterday at $7.46.
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