PulteGroup price target raised to $75 from $58 at Barclays

Barclays analyst Matthew Bouley raised the firm’s price target on PulteGroup to $75 from $58 and keeps an Overweight rating on the shares following quarterly results. Despite PulteGroup’s 32% year-to-date rally, the stock is trading at 1.3-times year-end 2023 TBV, a still-compelling valuation noting its 2023 ROTE estimate of 18.6%, the firm said in a research note on Friday.