PulteGroup price target raised to $165 from $150 at Wells Fargo

Wells Fargo analyst Sam Reid raised the firm’s price target on PulteGroup to $165 from $150 and keeps an Overweight rating on the shares as part of a Q3 earnings preview for the builders group. In builders, the firm urges “greater selectivity” on the back of recent outperformance, with the shares “embedding relief and potentially limiting upside.” In building products, Wells says the trough timing remains uncertain.