PulteGroup price target lowered to $109 from $116 at RBC Capital

RBC Capital analyst Mike Dahl lowered the firm’s price target on PulteGroup (PHM) to $109 from $116 and keeps a Sector Perform rating on the shares. The company delivered a relatively resilient Q1 and FY25 gross margin guide, with the management articulating its priority of price vs. pace in the current environment, which has turned more “volatile” in April, but the firm continues to see risks to both the delivery and margin guides, the analyst tells investors in a research note.