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Fly News Breaks for October 17, 2018
KBH
Oct 17, 2018 | 08:59 EDT
As previously reported, Credit Suisse analyst Susan Maklari downgraded KB Home to Underperform from Neutral and lowered her price target on the shares to $18 from $27. Over the last several months, her channel checks and Realtor Survey point to slowing demand in higher cost MSAs, including California, which accounted for about 50% of the company's 2017 revenues. This comes as rates rise, home prices remain elevated, and consumers seek out greater affordability, she notes.
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