KBW raises KB Home PT on higher deliveries

KB Home

01/10/2024 18:42

** KBW raises homebuilder KB Home  KBH.N  PT to $87 from $77
on higher deliveries
    ** New PT represents a 1.52% upside to the stock's last
close
    ** Maintains "marketperform", says KBH looks relatively
attractive near mid-cap peers, but expresses a preference for
larger-cap builders
    ** The recent Fed rate cut is expected to ease pressure on
mortgage rates, driving demand for new homes
    ** 4 of 16 brokerages rate the stock "buy" or higher and 9
"hold" and 3 "sell"; their median PT is $86
    ** Including session moves, stock had risen ~36% YTD

 (Reporting by Soumendra Mukherjee)
 ((Soumendra.mukherjee@thomsonreuters.com))