JPMorgan analyst Michael Rehaut upgraded KB Home to Neutral from Underweight with a price target of $42.50, up from $32.50. The firm cites an increased earnings outlook post the company’s results for the upgrade. KBH‘s valuation fairly reflects JPMorgan’s relative fundamental outlook for fiscal 2023 and 2024, including modestly below average gross margins, in-line to below average operating margins and roughly average return on equity, the analyst tells investors in a research note.
Published first on TheFly
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