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UPDATE: Topeka Capital Markets Initiates KB Home at Hold on Macro Caution

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Topeka Capital Markets initiated coverage on KB Home (NYSE: KBH) with a Hold rating and a $17 price target.

Topeka Capital Markets said, "We are initiating coverage with a Hold and a $17 price target. KB Home has outlined a plan to profitability, but we remain concerned that restrictive mortgage financing for entry-level buyers, which we believe accounts for 70% of KBH's business, may delay the timing of that plan. Beyond the potential macroeconomic catalysts, we do not see another pending catalyst for the name, and as a result, we view the shares as fairly valued at current levels."

KB Home closed at $14.17 on Thursday.

Latest Ratings for KBH

DateFirmActionFromTo
Nov 2016Evercore ISI GroupInitiates Coverage OnHold
Sep 2016Wells FargoInitiates Coverage onMarket Perform
Sep 2016WedbushInitiates Coverage onOutperform

View More Analyst Ratings for KBH
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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