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UPDATE: Williams Financial Group Upgrades PulteGroup on Favorable Long-Term Outlook

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In a report published Tuesday, Williams Financial Group analyst David N. Williams upgraded PulteGroup (NYSE: PHM) from Hold to Buy, but lowered the price target from $23.00 to $21.00.

In the report, Williams Financial Group noted, “We are upgrading shares of PHM from a Hold to a Buy rating. Although the most recent earnings report was disappointing from an order growth perspective, we believe the longer outlook remains favorable. Given recent share pressures, we view current prices as an attractive entry point even as multiples continue to compress. Our new FY14 numbers reflect the recent order growth headwinds; however, we are expecting community count expansion to accelerate in the coming quarters,re‐invigorating new order growth.”

PulteGroup closed on Monday at $16.39.

Latest Ratings for PHM

DateFirmActionFromTo
Jul 2016Deutsche BankUpgradesHoldBuy
Jul 2016JP MorganUpgradesNeutralOverweight
Apr 2016Raymond JamesDowngradesOutperformMarket Perform

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Posted-In: David N. Williams Williams Financial GroupAnalyst Color Upgrades Analyst Ratings

 

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