Credit Suisse Starts Homebuilder Coverage (CTX, DHI, KBH, MDC, NVR, HOV, MTH)

Credit Suisse has issued a new coverage rating systems for its homebuilder universe. These are some of the calls we saw in the sector:

Centex (NYSE: CTX), DR Horton (NYSE: DHI), and KB Home (NYSE: KBH) were all started with "Outperform" ratings.
MDC Holdings (NYSE: MDC) and NVR (NYSE: NVR) were both started as Neutral.
Hovnanian (NYSE: HOV) and Meritage Homes (NYSE: MTH) were started as "Underperform."

We’ll follow up if we see any of the other calls in the sector out of Credit Suisse.
Jon C. Ogg
June 24, 2008