Housing
BofA/Merrill Lynch Resumes Homebuilder Coverage (TOL, BZH, KBH, RYL, DHI, HOV, PHM, LEN, MDC, XHB)
Published:
Last Updated:
Bank of America/Merrill Lynch has initiated coverage of the homebuilder sector this morning. Technically this is a resumption of coverage. While some are positive calls, there are still some cautious undertones here from the firm. Toll Brothers Inc. (NYSE: TOL) was initiated with an “Underperform” rating with a $16.00 target. The “Neutral” rated homebuilder is Beazer Homes USA Inc. (NYSE: BZH) with a $4.50 target. The “BUY” rated homebuilders are as follows:
- KB Home (NYSE: KBH) with a $20 target,
- Ryland Group Inc. (NYSE: RYL) with a $28 target,
- DR Horton Inc. (NYSE: DHI) with a $16 target,
- Hovnanian Enterprises Inc. (NYSE: HOV) with a $5 target,
- Pulte Homes Inc. (NYSE: PHM) with a $13 target,
- Lennar Corp. (NYSE: LEN) with a $21 target,
- and MDC Holdings Inc. (NYSE: MDC) with a $43 target.
There has hardly been any reaction in the SPDR S&P Homebuilders (NYSE: XHB) this morning, but most of these components are indicated higher after coverage was initiated this morning.
You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.
JON C. OGG
FEBRUARY 17, 2010
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.