KB Home: Wedbush raises target price

(CercleFinance.com) - Wedbush maintains its "outperform" rating on KB Home shares, with a target price raised from $42 to $55, after increasing its 2023 and 2024 EPS and revenue estimates for the homebuilder.


"We believe recent EPS reports from KB's public competitors suggest the spring and early summer demand trends have been materially better than we expected when we wrote our F1Q23 recap in March," it said.

Ahead of the group's Q2 earnings call, the broker says it expects EPS of $1.34, slightly above the consensus, as well as a 16% fall in revenues to $1.4bn.


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