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☆ Bank of America upgrades Toll Brothers, cites favorable setup for homebuilder stocks as rates decline
  + stars: | 2023-01-11 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
Bank of America is getting more bullish on shares of Toll Brothers as mortgage rates decline from their peak. Analyst Rafe Jadrosich upgraded he homebuilding stock to buy from neutral, saying that the valuation looks compelling on a price-to-book basis. Toll Brothers' long build cycle also means it has yet to see the full impact of price hikes. Toll Brothers also bought about three-fourths of the land it owns before the pandemic, which should offer a "long runway for health margins," he added. He also upgraded shares of Pultegroup to a buy from a neutral rating, saying that its valuation looks attractive and he sees limited write-down risk.
☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Netflix, Amazon, Salesforce, Levi's & more
  + stars: | 2023-01-11 | by ( Michael Bloom | ) www.cnbc.com   time to read: +8 min
Bank of America downgrades Coinbase to underperform from neutral Bank of America said it sees too many headwinds for the crypto exchange. Goldman Sachs downgrades Jefferies to neutral from buy Goldman said it sees a "backlog decline" for the investment bank company. Bank of America upgrades Toll Brothers and Pulte Group to buy from neutral Bank of America upgraded several homebuilders, citing compelling valuations. "We upgrade PulteGroup to Buy (from Neutral), Toll Brothers to Buy (from Neutral), and Lennar to Neutral (from Underperform). Bank of America upgrades Dow to neutral from underperform Bank of America said it's taking a more "offensive" approach to the stock.
☆ Stocks on the cheap — Here are 11 names with single-digit P/Es that could rally
  + stars: | 2022-12-31 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
On the tail-end of a down year, there are some stocks that might be cheaper than they should be. That has led to a down year for the majority of stocks — and all but one of the 11 sectors — in the broad index. But this sharp decline could present a buying opportunity, as some stocks are set to rally. Along with PulteGroup , it also has the lowest forward price-to-earnings ratio among the names on the list, at 6.2 times. Further down the list, United Rentals has a price-to-earnings ratio of 9.6.
☆ This week's best performers include Moderna and two homebuilders
  + stars: | 2022-12-16 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
As of Friday's open, these are some of the stocks poised to buck this week's negative trend. This week's top performer was vaccine maker Moderna , with shares up nearly 17% as of Friday's open. Homebuilding stocks Lennar and PulteGroup are also on pace to finish the week on a positive note. Shares of both stocks are down more than 19% this year, but were on pace to gain about 6% for the week as of Friday's open. About 47% of analysts say shares are a buy, offering 10.6% upside from Thursday's close.
☆ Barclays upgrades Lennar, says homebuilder can rally more than 25% as housing market troughs in 2023
  + stars: | 2022-12-14 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
Homebuilding stock Lennar is one of the best-positioned names to capitalize on a housing market trough next year, according to Barclays. Analyst Matthew Bouley upgraded the homebuilder to overweight from equal weight, saying in a note to clients Wednesday that Lennar's size and past history of solid execution should help it navigate this environment. Barclays' upped its price target on Lennar to $116 from $85 a share, suggesting the stock's poised to rally 28% from Tuesday's close. Across the board, Bouley views many housing stocks as better situated for a solid 2023 and poised to benefit from the possibility of interest rates peaking. Bouley also upgraded shares of PulteGroup to an overweight rating, saying that the stock offers a "best-in-class" return on equity that isn't reflected in its valuation.
☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Amazon, Exxon Mobil, Nike, Best Buy & more
  + stars: | 2022-12-14 | by ( Michael Bloom | ) www.cnbc.com   time to read: +8 min
Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. Bank of America downgrades Best Buy to underperform from neutral Bank of America said the environment is too challenging right now for Best Buy. Bank of America reiterates Nike as neutral Bank of America said it's cautious going into Nike earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on Alphabet but that investors need to hear more about the Google parent's cost-cutting initiatives.
☆ One major homebuilder is resorting to Black Friday discounts to lure buyers back to the market
  + stars: | 2022-11-25 | by ( James Rodriguez | ) www.businessinsider.com   time to read: +3 min
Lennar, the nation's second-largest homebuilder, advertised Black Friday deals on its website. Lennar, the nation's second-largest homebuilder, advertised "Black Friday Deals on select move-in ready homes" at the top of the home page of its website as of Wednesday. Faced with the prospect of paying hundreds of dollars more for a mortgage each month, buyers retreated from the market in droves. Horton, the nation's largest homebuilder, said it was scaling back its production and offering more incentives to buyers to keep deals going. Buyers have continued to pull out of the market amid persistent inflation and high home prices.
☆ Toll Brothers' stock is cheap relative to its homebuilding peers, JPMorgan says in upgrade
  + stars: | 2022-11-22 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
Toll Brothers is trading at a sizeable discount to its peers and offers a favorable risk-reward outlook for investors looking to play the homebuilder sector, JPMorgan said Tuesday. Analyst Michael Rehaut upgraded the stock to overweight from neutral, noting it trades at a 0.95 current price-to-book ratio and estimates its 2023 multiple at 0.77. The analyst said that's well below average ratios of 1.31 and 1.14, respectively, for larger-cap peers. The upgrade puts Toll Brothers in line with JPMorgan's other overweight-rated homebuilding names. JPMorgan upped its price target on Toll Brothers to $58 from $47 a share, which implies that shares could gain 29% from Monday's close.
☆ Housing Industry Braces for a Downturn, but Investors Are Piling In
  + stars: | 2022-11-20 | by ( Karen Langley | Ben Eisen | ) www.wsj.com   time to read: 1 min
Investors are seizing on any sign inflation has peaked as a reason to snap up beaten-down shares. Just look at housing stocks. Redfin Corp. shares have soared more than 50% since Nov. 9 when the real-estate brokerage’s chief executive warned, “We have to assume that the sun will never come up.” Shares of home builder PulteGroup Inc. have gained 11% over the same period, despite its CEO recently describing a widespread pullback in demand as interest rates climbed.
☆ Home-Builder Stocks Stage Big Rebound
  + stars: | 2022-11-16 | by ( Hardika Singh | ) www.wsj.com   time to read: 1 min
Shares of home builders, building-products and appliance companies are rebounding, outperforming the broader stock market, after mortgage rates eased off their recent highs. The SPDR S&P Homebuilders exchange-traded fund rose 8.9% in the past week, recently posting its strongest run since April 2020. PulteGroup Inc. has added 12%, building materials supplier Builders FirstSource Inc. has climbed 5.2% and appliances maker Whirlpool Corp. has gained 9.2%, all beating the benchmark S&P 500 index, which has risen 4.3%.
☆ The race to build thousands of new homes is stalling, with hurdles highest for developers of 'affordable' apartments
  + stars: | 2022-11-15 | by ( Dan Latu | ) www.businessinsider.com   time to read: +5 min
Residential builders are feeling the pinch of higher financing costs of their own. He estimated that, in aggregate, developers like him would decrease production by 10% to 20% this year, in a potentially devastating setback for affordable housing. "The failure to act is only made clear a few years later, given the timeline of real-estate development," he said. "In a couple of years from now, we're going to look back and say this was a missed opportunity" to close the affordable housing gap. "Financing can be very targeted towards affordable development and can be subsidized much more aggressively," he said.
☆ What Cramer is watching Monday — two AMD upgrades, Microsoft hesitancy, Alzheimer's results
  + stars: | 2022-11-14 | by ( Jim Cramer | ) www.cnbc.com   time to read: +5 min
Baird upgrades Advance Micro Devices (AMD) to outperform from neutral (buy from hold) and raises price target to $100 per share from $65. UBS goes to a buy from neutral as well and raises price target to $95 from $75. Oppenheimer cuts price target on Club holding Nvidia (NVDA) to $225 per share from $250. Credit Suisse analyst Scott Deuschle assumes coverage on Honeywell (HON) with a neutral rating and a $202-per-share price target. Good for Club holding Eli Lily (LLY) and Biogen (BIIB), which are each working on separate experiment treatments for the disease.
☆ Homebuilders say they're on the edge of a steeper downturn as buyers pull back
  + stars: | 2022-10-31 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
The once-hot housing market is cooling off at an alarming rate, and some homebuilders say it will only get worse come the new year as new orders dry up. Fast-rising mortgage rates have caused once-frenzied homebuyers to turn on their heels and become worried about their potential investment and the health of the overall economy. Home prices surged over 40% in just two years, and homebuilders couldn't meet the orders fast enough. That was before mortgage rates crossed 6% and then 7%. "Any hope of a soft landing really evaporated last spring, when it became so clear that our customers who are accustomed to such low mortgage rates just were going to go on strike."
☆ Many Americans are ditching their dreams of owning a house as recession fears flare, says the CEO of one of the nation's largest homebuilders
  + stars: | 2022-10-29 | by ( Alcynna Lloyd | ) www.businessinsider.com   time to read: +4 min
Not only is this a 23.2% decline from the rate a year ago — it also marks the slowest rate of sales since September 2012. So far in 2022, US housing construction has fallen in four out of nine months. It's a scenario that Orphe Divounguy, a senior economist at Zillow, said will not only impact home builders, but the overall housing market. "What is surprising is that rising rates normally push out potential homebuyers, but they have also pushed out potential sellers," Divounguy told Insider. With less housing inventory being introduced to the market, home prices are likely to remain high.
☆ Three Stock Lunch: General Electric, Halliburton and PulteGroup
  + stars: | 2022-10-25 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree Stock Lunch: General Electric, Halliburton and PulteGroupVictoria Greene, G Squared Private Wealth founding partner and CIO, joins 'Power Lunch' to discuss her investing take on three stocks: General Electric, Halliburton and PulteGroup.
☆ Stocks making the biggest moves midday: Xerox, Logitech, Upstart, Hibbett, Planet Fitness & more
  + stars: | 2022-10-25 | by ( Sarah Min | ) www.cnbc.com   time to read: +4 min
Xerox — Shares plunged 15% after the seller of print and digital document products and services reported disappointing earnings and cut its full-year revenue guidance. Brown & Brown — Shares of the insurance company dropped 11% after Brown & Brown missed earnings expectations. Brown & Brown posted earnings of 50 cents per share on revenue of $927.6 million. PulteGroup — The home construction company jumped 5.9% despite disappointing earnings expectations. General Motors — Shares of General Motors rose 3.6% after the automaker handily beat third-quarter earnings expectations.
☆ Tech tonic and Sunak salve
  + stars: | 2022-10-25 | by ( ) www.reuters.com   time to read: +5 min
A massive week for top technology firms worldwide pits U.S. mega cap earnings against the withering slide in China tech shares amid domestic political and economic fears. read moreBut the decimation of Chinese tech stocks (.HSTECH) this week was more worrying. read moreU.S.-listed shares of Chinese companies such as Pinduoduo (PDD.O), JD.com and Baidu Inc plunged between 12% and 25% in New York on Monday. read moreHSBC's shares fell almost 7% in London, meantime, as investors digested a sudden management change and rising bad loan charges. As investors awaited the European Central Bank's latest interest rate rise on Thursday, German business readings were above forecast for October.
☆ Here are Friday's biggest analyst calls: Apple, Netflix, Bank of America, Amazon, AT&T, Snap & more
  + stars: | 2022-10-21 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Telsey downgrades Under Armour to market perform from outperform Telsey said it's concerned about too much inventory weighing on the stock. Bank of America downgrades Snap to neutral from buy Bank of America downgraded the stock after its "mixed" earnings report. " JPMorgan reiterates Apple as overweight JPMorgan said investors are too focused on iPhone growth heading into Apple earnings next week. Raymond James downgrades KB Home, Toll Brothers and PulteGroup to market perform from strong buy and D.R. Horton to outperform from strong buy and Lennar to market perform from outperform Raymond James downgraded several homebuilders due to rising mortgage rates.
☆ Stocks could continue to break higher as Apple, big tech report earnings in week ahead
  + stars: | 2022-10-21 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +9 min
The three major averages closed higher Friday, with the S & P 500 adding 2.37% to close at 3,752.75. Stovall said the S & P 500 had six positive moves of 1% or more in the last 17 trading days, as of Friday. Earnings, earnings, earnings About 150 S & P 500 companies report earnings in the coming week. Technically speaking Scott Redler, partner with T3Live.com, said he is watching a formation in the S & P 500 that could be positive. His first target for the S & P 500 is 3,800.
☆ Stocks making the biggest moves midday: Lennar, Coinbase, Array Technologies and more
  + stars: | 2022-09-19 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
Check out the companies making the biggest moves midday Monday:D.R. Horton, Lennar, PulteGroup — Homebuilder stocks moved higher on Monday after KeyBanc double upgraded the sector to overweight from underweight. Array Technologies — The solar stock jumped over 3% after Piper Sandler upgraded Array Technologies to overweight from neutral, saying the company has more upside ahead on an improved forward outlook. AutoZone — AutoZone shares fell more than 2% as traders pored over a mixed quarterly earnings report. Wix — Shares of Wix soared 11% after activist investor Starboard Value revealed a 9% stake in the web development platform company.
☆ What Cramer is watching Monday — bond yields up, stocks down again as Wall Street on Fed watch
  + stars: | 2022-09-19 | by ( Jim Cramer | ) www.cnbc.com   time to read: +5 min
Morgan Stanley talks about the need to show why Club holding Salesforce (CRM) should stabilize out of Dreamforce conference. I think that's wrong: it's Club holding TJX Companies (TJX), off-price retailer behind T.J. Maxx, Marshall's and HomeGoods. Bank of America says do not sell Club holding Amazon (AMZN) on FedEx (FDX) warning. How about Club holding Disney (DIS)? As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Here are Monday's biggest analyst calls: Apple, Amazon, Adobe, Peloton, Bed Bath & Beyond and more
  + stars: | 2022-09-19 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Oppenheimer reiterates Peloton as outperform Oppenheimer said it sees signs that Peloton's turnaround is starting to take hold. Bank of America reiterates Amazon as buy Bank of America noted that Amazon is poised to gain share, especially after FedEx's disappointing earnings report last week. JPMorgan reiterates Apple as overweight JPMorgan said in a note that demand remains "elevated" for Apple's latest iPhone models. Jefferies reiterates Bed Bath & Beyond as hold Jefferies said its analysis shows retailers such as Walmart and Target are key beneficiaries of Bed Bath & Beyond store closures. "After reviewing locations of upcoming Bed Bath store closures, we believe Walmart, Target, and Big Lots will be prime beneficiaries of sales transfer.
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