Barclays downgraded PulteGroup (PHM) to Equal Weight from Overweight with a price target of $140, down from $150. As homebuilding’s “utopia looks increasingly out of reach,” Barclays no longer expects builders to :defy gravity,” the analyst tells investors in a research note. The firm thinks building products and distributors will outperform with end markets “near trough.” It moved to the sidelines on homebuilder stocks entering 2025, but expects building products and distributors to outperform homebuilders and the market. For builders, following two years of relative stock outperformance and an “unprecedented” market recovery that has occurred in spite of high rates and challenged affordability, the new construction market “has now hit a ceiling,” contends Barclays.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PHM:
- Trump Weekly: BofA says Trump policies ‘bullish’ for bank stocks
- Trump Trade: Meta Platforms seeking ‘active role’ in Trump’s policies
- Homebuilders vulnerable to deportations and new tariffs, WSJ says
- PulteGroup raises quarterly dividend 10% to 22c per share
- PulteGroup price target lowered to $165 from $168 at Oppenheimer