PulteGroup price target raised to $135 from $120 at Raymond James

Raymond James analyst Buck Horne raised the firm’s price target on PulteGroup to $135 from $120 and keeps an Outperform rating on the shares. While shares have pulled back slightly since the end of March, likely due to concerns over mortgage rates creeping back above the 7% threshold, PulteGroup’s results once again underscored how the large public homebuilders remain uniquely equipped with powerful tools to navigate a “higher for longer” rate environment, the analyst tells investors in a research note.