PulteGroup price target raised to $140 from $132 at Oppenheimer

Oppenheimer raised the firm’s price target on PulteGroup (PHM) to $140 from $132 and keeps an Outperform rating on the shares post Q2 earnings. The firm notes that results and management’s commentary were better than its expectations, underscoring the company’s strategy of balancing price and pace. Performance in Florida and from its active adult business was also a noteworthy positive, Oppenheimer adds, saying it continues to see PulteGroup as a compelling capital return and ROE story with an attractive buyer mix.