PulteGroup price target raised to $71 from $65 at BofA

BofA analyst Rafe Jadrosich raised the firm’s price target on PulteGroup to $71 from $65 and keeps a Buy rating on the shares following the company’s better-than-expected Q1 earnings. Demand improved sharply in the key Spring selling season and momentum has continued into April, margins are trending better than expected and better cycle times could drive upside to 2023 deliveries, the firm tells investors.