PulteGroup price target raised to $132 from $125 at Oppenheimer

Oppenheimer raised the firm’s price target on PulteGroup (PHM) to $132 from $125 and keeps an Outperform rating on the shares. The firm is lowering estimates on PulteGroup ahead of Q2 earnings to reflect incremental pressure on volume as the company balances pace and price. The recent run-in shares presents some near-term risk, in Oppenheimer’s view, as it thinks the demand backdrop has deteriorated since Q1 earnings and that Street estimates for 2025 are too high. That said, the firm views sentiment as negative toward the stock. And it thinks the company should get credit for its sector-leading ROE and buyer diversity.