Beazer Homes downgraded to Neutral on valuation at Wedbush

Wedbush analyst Jay McCanless downgraded Beazer Homes to Neutral from Outperform with an unchanged price target of $32. The analyst cites valuation for the downgrade with the shares within 5% of the price target. The firm does not see an emerging catalyst to increase the target. Wedbush’s long term positive view on housing and the public builders has not changed. It says the downgrade of Beazer should not be interpreted as a negative read for the rest of its builder coverage.