NVR just upgraded at Deutsche Bank, here’s why

Deutsche Bank upgraded NVR to Hold from Sell with a price target of $6,300, up from $4,900. The firm remains positive on the homebuilders group ahead of what it anticipates will be a strong spring selling season with or without a drop in interest rates. It continues to prefer certain stocks to others on the basis of asset efficiency and capital discipline. The upgrade of NVR reflects a more favorable valuation and visibility to capital deployment, the analyst tells investors in a research note.