KB Home price target lowered to $63 from $67 at RBC Capital

RBC Capital lowered the firm’s price target on KB Home (KBH) to $63 from $67 and keeps a Sector Perform rating on the shares. The company reported a “sharp” Q1 order miss with weaker FY25 guidance on deliveries and margins, the analyst tells investors in a research note. RBC adds that it continue to see risk to FY25 as the guide implies a second-half inflection in margins from Q2 and a healthier sales pace.