Deutsche Bank analyst Nishu Sood sees greater likelihood for change at PulteGroup after CNBC reported yesterday that Elliott Management has taken a 4%-5% stake in the homebuilder. A high-profile activist joining the CEO succession debate and strategy increases the chances that there may be "meaningful strategic shifts" at PulteGroup over the next 12-18 months, the analyst tells investors in a research note. Sood thinks shares will benefit over a longer time period as he believes changes are likely to be mainly operational in nature. He keeps a Hold rating on PulteGroup with a $20 price target.