Barclays Revises Price Targets On Homebuilders
In a report released Monday, analyst Stephen Kim revised price targets on homebuilders covered by Barclays.
Kim revised his price targets due to FY15 projections shifting on Barclays' two major focuses of price-to-book and price-to-earnings. The analyst lowered his near-term orders outlook by nearly five percent and increased price targets because of continuous expansion in the covered companies' book values.
Barclays Homebuilders Price Target Changes:
Meritage Homes (NYSE: MTH) reiterating Overweight rating and raising its price target from $49 to $52 per share.
PulteGroup (NYSE: PHM): reiterating Underweight rating and raising its price target from $20 to $22 per share.
Ryland Group (NYSE: RYL): reiterating Equal Weight rating and raising its price target from $45 to $48 per share.
Toll Brothers (NYSE: TOL): reiterating Equal Weight rating and raising its price target from $41 to $45 per share.
Additional price target increases include Lennar (NYSE: LEN) from $46 to $50 per share following the company's 2Q14 earnings, KB Home (NYSE: KBH) from $18 to $20 per share and D.R. Horton (NYSE: DHI) from $28 to $34 per share.
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