PulteGroup price target raised to $115 from $111 at RBC Capital

RBC Capital raised the firm’s price target on PulteGroup (PHM) to $115 from $111 and keeps a Sector Perform rating on the shares. The firm cites the company’s Q4 revenue upside while modeling somewhat better orders and closings, even though these come at the expense of gross margins, the analyst tells investors in a research note. Incentives also rose through year-end to drive demand and rightsize inventory, the firm added.