Wells Fargo lowered the firm’s price target on KB Home (KBH) to $50 from $55 and keeps an Underweight rating on the shares. The firm notes KB’s Q1 was soft, but it’s the outlook that gives Wells pause, with a sizable FY26 unit/revenue guide down and weak Q2 gross margin. March-to-date sounds soft, putting onus on the second half of the year, it adds.
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