Lehman Starts Homebuilders (DHI, HOV, KBH, LEN, PHM, RYL, TOL)
February 27, 2008 by Douglas A. McIntyreLehman 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
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