Lehman Starts Homebuilders (DHI, HOV, KBH, LEN, PHM, RYL, TOL)

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Lehman Brothers has initiated coverage of some key homebuilders this morning:

  • DR Horton (NYSE: DHI) started as Overweight.
  • Hovnanian (NYSE: HOV) started as Underweight.
  • KB Home (NYSE: KBH) started as Equal-Weight.
  • Lennar (NYSE: LEN) started as Equal-Weight.
  • Pulte Homes (NYSE: PHM) started as Equal-Weight.
  • Ryland Group (NYSE: RYL) started as Overweight.
  • Toll Brothers (NYSE: TOL) started as Overweight.

Just yesterday we noted how the sector has seen a major recovery and were pondering if the sector had bottomed.

Jon C. Ogg
February 27, 2008