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Fly News Breaks for April 8, 2016
KBH
Apr 8, 2016 | 09:14 EDT
BofA/Merrill analysts led by John Lovallo said reports have resurfaced in the media that KB Homes is a potential acquisition target. Lovallo views a takeover as unlikely given the likely reduction or elimination of KB Homes' deferred tax asset in a change of control situation, an already high financial leverage profile, the company's 2009 rights agreement, and a genera lack of synergies or benefit. The analyst rates KB Homes an Underperform with a $10.50 price target.
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