UPDATE: Williams Capital Upgrades KB Home to Hold, Doubles Target to $22

Williams Capital's David Williams upgraded shares of KB Home

from Sell to Hold and raised his price target from $11 to $22 earlier. The analyst believes "strategic rebalancing over the last several years has finally begun to flow through, well ahead of where we had anticipated." Williams said he is feeling more comfortable given favorable demographics and significant levels of land spending. KB Home shares are up 1.3 percent to $22.05 at last check.