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Benzinga
Benzinga
Business
Shivani Kumaresan

Seaport Global Turns Bullish On This Homebuilder

Seaport Global KBH KB Home NYSE
  • Seaport Global analyst Mark Weintraub upgraded KB Home (NYSE:KBH) to Buy from Neutral with a $53 price target.
  • Weintraub noted the stock had dropped 16% in one week on concerns about rising interest rates.
  • However, the analyst sees "underlying positives" for housing, including strong demographics and continued catch-up post a decade of underbuilding.
  • Following his downgrade a week ago, the analyst concludes KB's risk/reward "looks very good again."
  • Price Action: KBH shares are trading higher by 0.46% at $41.71 in premarket on the last check Friday.
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