PulteGroup price target raised to $127 from $120 at BofA

BofA analyst Rafe Jadrosich raised the firm’s price target on PulteGroup (PHM) to $127 from $120 and keeps a Buy rating on the shares. Q1 results beat expectation, but 2025 guidance was lowered on weaker demand, notes the analyst, who calls the outlook “better than expected in a tough environment.” Following the report, the firm contends that Pulte has attractive ROE and capital return relative to other builders and it expects resilient order/margin performance in a tough backdrop.