BTIG analyst Carl Reichardt raised the firm’s price target on PulteGroup to $68 from $61 and keeps a Buy rating on the shares. The company’s earnings beat was driven by higher homebuilding revenue, better gross margins, and lower SG&A-to-sales than anticipated, the analyst tells investors in a research note. Unit orders decreased 41% vs. BTIG’s 36% estimate, but demand trends improved monthly through the quarter and into January, the firm adds.
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Published first on TheFly
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