PulteGroup price target lowered to $98 from $100 at Barclays

Barclays analyst Matthew Bouley lowered the firm’s price target on PulteGroup (PHM) to $98 from $100 and keeps an Equal Weight rating on the shares. The firm says the company’s “disciplined approach” to margin versus pace is supportive of “surprisingly resilient” gross margin in Q1. But looking forward, both PulteGroup’s volume and margin is on the downward trajectory, with no visibility to stabilization, the analyst tells investors in a research note.