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Homebuilders buck today's downtrend as Goldman upgrades the homebuilder sector to Attractive and...

  • Monday, July 23, 2012, 1:59 PM ET
    Homebuilders buck today's downtrend as Goldman upgrades the homebuilder sector to Attractive and raises its ratings for MDC +5.6%, KBH +2.1% and RYL +4% while cutting NVR -1.8% to Sell. The firm thinks "investors should take advantage of the likely volatility in the space given U.S. homebuilders' strong correlation with the still depressed levels of new home sales."
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    I bought MDC at 17 last November but sold at 25 in March. It's completely insane that it's this high. Way ahead of either earnings or the macro picture. I wonder if analysts are making their earnings estimates based on mid-bubble home prices. We're not going to see those prices again for 20 years.
    23 Jul 2012, 03:14 PM Reply Like
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