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Fly News Breaks for April 24, 2019
PHM
Apr 24, 2019 | 06:50 EDT
BTIG analyst Carl Reichhardt upgraded PulteGroup to Neutral after its "solid" Q1 results and improved outlook, demonstrating that demand is "more elastic" and margins "more stable" than he anticipated. The analyst also expects order comps to become easier over the balance of 2019, offsetting "gross margin decline and ROE erosion". Reichhardt adds that the risk-reward on PulteGroup stock now looks more balanced, stating that continued underperformance relative to its peer group is unlikely.
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