PulteGroup price target raised to $51 from $47 at KeyBanc

KeyBanc analyst Kenneth Zener raised the firm’s price target on PulteGroup to $51 from $47 and keeps an Overweight rating on the shares. The analyst cites rising stock levels amid volatile market trends, with his absolute targets reflecting implied market out-performance more than an intrinsic valuation, given ongoing macro pressure superseding near-term fundamentals. Amid deteriorating housing data, Zener reiterates a Bullish Builder thesis RIP, based on a favorable risk to return versus the market.