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Benzinga
Benzinga
Business
Priya Nigam

BofA Upgrades Homebuilders Toll Bros, PulteGroup; Stocks Are Already Pricing In Mortgage Rate Spike

PulteGroup TOL BofA Securities

Home builders have underperformed, despite posting strong quarterly earnings and issuing robust guidance for 2022, according to BofA Securities.

The Home builders Analyst: Rafe Jadrosich upgraded the ratings for Toll Brothers Inc (NYSE:TOL) and PulteGroup, Inc. (NYSE:PHM) from Underperform to Buy. While raising the price target for Toll Brothers from $61 to $63, the analyst kept PulteGroup’s price target unchanged at $58.

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