KB Home rises on upbeat 2025 housing revenue forecast

KB Home

14/01/2025 18:07

(Updates)
    ** Shares of homebuilder KB Home  KBH.N  rise 3.1% to $66.15
    ** Company forecasts 2025 housing revenue to be in the range
of $7.00 bln to $7.50 bln, compared with $6.90 bln in 2024
    ** Reports Q4 rev. of $2 bln, up 19% and roughly in line
with Wall Street estimates
    ** Post results, BofA Global Research cuts price objective
to $76 and UBS cuts PT to $97; while Wells Fargo raises PT to
$70 
    ** "We see risk that KBH could have to increase the level of
incentives to achieve its revenue guidance for the full year if
mortgage rates remain elevated," BofA says
    ** 4 of 16 brokerages rate the stock "buy", 9 "hold" and 3
"sell" or lower; their median PT is $76, according to data
compiled by LSEG
    ** Including session's move, KBH up ~1% YTD, adding to the
5.2% gain last year
 

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))