PulteGroup thesis remains intact, says UBS UBS said they are increasingly confident in their long term thesis on PulteGroup following meetings with management. The firm noted the company's limited inventory, a loosening in underwriting, and low supply in the Midwest market where there is limited competition for Pulte. UBS has a Buy rating with a price target of $25 on shares of PulteGroup.
UBS to hold a conference Building & Building Products Annual CEO Conference is being held in New York on November 13 with webcasted company presentations to begin at 9:30 am; not all company presentations may be webcasted. Webcast Link
PulteGroup upgraded at BofA/Merrill As previously reported, BofA/Merrill upgraded PulteGroup to Buy from Neutral. The firm's checks indicate PulteGroup's order growth is at a positive inflection point and its balanced approach to capital allocation will drive EPS accretion. Price target raised to $25 from $23.