Beazer Homes rises to 12-year high as Wedbush upgrades on housing demand

Beazer Homes USA

28/06/2023 18:28

** Shares of home construction company Beazer Homes USA
 BZH.N  rise as much as 12.33% to over 12-year high at $27.68 
    ** Stock last up 10.92% 
    ** Wedbush upgrades BZH to "outperform" from "neutral", 
citing rebound in new housing demand and strong book value of
homebuilding cos 
    ** Brokerage raises PT to $32 from $20, reflecting an upside
potential of ~30% on last close 
    ** There is a rebound in demand driven by a lack of existing
home competition in most markets and by tools like mortgage rate
and closing cost incentives that help buyers solve for the
payment they need - Wedbush 
    ** YTD, BZH shares have more than doubled including session
moves

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))