PulteGroup price target lowered to $150 from $170 at Truist

Truist lowered the firm’s price target on PulteGroup (PHM) to $150 from $170 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results for Homebuilders. Major conflicts tend to impact consumer confidence, and the Iran war-related impacts are weighing on an already soft spring selling season, with the firm’s initial data reads supporting this view, the analyst tells investors in a research note. Truist adds that its reduced price targets on Homebuilders group reflects the inflationary and consumer confidence impacts from surging oil prices.