KB Home price target raised to $64 from $60 at BofA

BofA raised the firm’s price target on KB Home to $64 from $60 and keeps a Neutral rating on the shares after the company reported Q4 EPS that beat the firm’s forecast and consensus, driven by better deliveries, higher gross margin and lower share count. The FY24 outlook was “roughly in-line, but could be conservative,” says the analyst, who believes KB Home shares are fairly valued near where they are currently trading.