In a report released yesterday, Rafe Jadrosich from Bank of America Securities reiterated a Buy rating on PulteGroup (PHM – Research Report), with a price target of $127.00.
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Rafe Jadrosich has given his Buy rating due to a combination of factors including PulteGroup’s strong financial performance and strategic adjustments in a challenging market. The company reported first-quarter earnings that surpassed expectations, driven by robust gross margins and higher average selling prices, which indicates effective cost management and pricing strategy.
Despite a reduction in 2025 delivery guidance due to weaker demand, PulteGroup’s return on equity and capital return remain attractive compared to other builders. The company has also taken proactive measures to align with the current market conditions by reducing speculative inventory and adjusting land acquisition spending. These strategic moves, coupled with a favorable mix of geographic and buyer group dynamics, support the Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $120.00 price target.
PHM’s price has also changed moderately for the past six months – from $133.810 to $100.890, which is a -24.60% drop .
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