KB Home price target raised to $60 from $50 at Wells Fargo

Wells Fargo raised the firm’s price target on KB Home (KBH) to $60 from $50 and keeps an Underweight rating on the shares. The firm adjusted price targets in the homebuilding group, saying investors are pricing in some forward optimism on interest rates while generalists are doing more work on the group. Wells increased valuations across the board following the recent re-rating of the stocks.