Market Overview

UPDATE: JP Morgan Raises KB Home PT to $21.50 on Gross Margin Outlook

Share:
Related KBH
Homebuilding Stocks Fall Amid Housing Market Index Report
Fast Money Picks For January 19
PulteGroup Optimistic As Homebuyer Traffic Picks Up (Investor's Business Daily)

JP Morgan maintained KB Home (NYSE: KBH) with an Overweight rating and raised the price target from $20.00 to $21.50.

JP Morgan said, "Trading at 1.2x P/B (ex-adjusted FAS 109 charges), a 33% discount to its peers, we believe KBH's valuation does not fully reflect our outlook for the company to generate roughly breakeven EPS in FY13 as well as our outlook for gross margin expansion during the upcoming year, which we note has been a challenge for the company over the last 4 quarters. Thus we rate the stock Overweight relative to its peers."

KB Home closed at $17.14 on Monday.

Latest Ratings for KBH

DateFirmActionFromTo
Jan 2015Morgan StanleyInitiates Coverage onUnderweight
Jan 2015CitigroupMaintainsNeutral
Jan 2015SusquehannaDowngradesPositiveNeutral

View More Analyst Ratings for KBH
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (KBH)

Around the Web, We're Loving...

Get Benzinga's Newsletters