KB Home Stock Price Target Cut After 30% Drop in 6 Months
Keefe Bruyette has revised the price target for KB Home stock (NYSE: KBH) from $76 to $65, maintaining a Market Perform rating on the homebuilder’s shares amid anticipated near-term market volatility. The moved target price comes as the analyst projects a potential balance between the prospect of stabilization in the new home market and the risk of further downturns.
KB Home has had a notable drop in its stock price with a 9.39% decrease YTD and a 30.50% fall in the past 6 months, a significant underperformance to the broader market. At $58.62 this morning, KB Home sits close to its 52-week low of $56.41.
The analyst’s cautionary stance reflects a balanced view of the risks and potential stability in the residential construction…
