PulteGroup price target raised to $113 from $106 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on PulteGroup to $113 from $106 and keeps a Sector Perform rating on the shares. The company saw healthy demand and better price/incentive trends in Q1, driving a higher baseline gross margin guide, though the management also acknowledged some uncertainty looking to second-half impacts from the recent increase in rates and also noted some early signs of traffic moderation recently, the analyst tells investors in a research note.