Barclays analyst Matthew Bouley upgraded KB Home to Overweight from Equal Weight and raised his price target for the shares to $29 from $24. The analyst says his firm's spring agent survey confirmed that housing fundamentals have improved and stabilized. Gradual market improvement links with KB Home's 2019 community ramp, allowing for accelerating growth, Bouley tells investors in a research note. This, coupled with improving margins, "manifests in more resilient returns" and should support a higher multiple, adds the analyst. He believes KB Home's valuation still reflects a market that is deteriorating.