This morning, Banc of America has actually upgraded the homebuilder sector. This may be the first such round of upgrades from a brokerage firm across the board in what seems like forever. The price targets haven’t been seen yet, but here are some of the summary notes:
- KB Home (NYSE: KBH), MDC Holdings (NYSE: MDC), Pulte Homes (NYSE: PHM) raised to Buy.
- Toll Brothers (NYSE: TOL) raised to Neutral from Sell.
Homebuilder stocks were hit hard yesterday, but last week we noted how the strong rally had taken some of the homebuilder stocks up more than 100% from their lows, and some were even up 200%.
When was the last time you saw ANY good news in this sector?
Jon C. Ogg
February 5, 2008