BofA lowered the firm’s price target on PulteGroup (PHM) to $140 from $145 and keeps a Buy rating on the shares. Housing demand has been sluggish and incentives are still elevated, notes the analyst, who believes policy uncertainty is an overhang to multiples in the space. The firm lowered price targets on the homebuilders it covers by 6% on average as it expects sentiment to be hampered by policy uncertainty.
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- PulteGroup price target raised to $143 from $132 at Citi
- PulteGroup price target raised to $145 from $140 at BofA