UPDATE: Citigroup Downgrades Beazer Homes to Sell, Cuts PT to $1.80 on Valuation

Citigroup assumes a Sell rating on Beazer Homes BZH from Buy, and cuts its price target from $4.50 to $1.80. Citigroup says, "We anticipate that the stock may selloff on a: (1) ~40% reduction in TBV through 1CQ13; (2) further increase in shareholder dilution to reduce leverage/grow; and (3) continuance of below average margins from potentially less favorable communities. In addition, BZH shares tend to be most vulnerable if the group does correct given its high beta/leverage." BZH closed at $2.51 on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsCitigroup
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!