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UPDATE: Topeka Capital Markets Initiates PulteGroup at Buy; Move-Up Buyer Focus To Yield Growth

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Topeka Capital Markets initiated coverage on PulteGroup (NYSE: PHM) with a Buy rating and a $22 price target.

Topeka Capital Markets noted, "We believe the catalysts for PulteGroup are pricing power at 70% of active neighborhoods, reduced speculative home sales, and growing demand for move-up homes. We anticipate PHM's restructuring efforts over the last two years should result in approximately 70.0% YoY 2013 EPS growth."

PulteGroup closed at $16.28 on Thursday.

Latest Ratings for PHM

DateFirmActionFromTo
Jun 2017Credit SuisseInitiates Coverage OnOutperform
Feb 2017FBR CapitalUpgradesMarket PerformOutperform
Feb 2017BTIG ResearchInitiates Coverage OnNeutral

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

 

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