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Raymond James cut five homebuilder stocks today on valuation after the sector's significant...

Raymond James cut five homebuilder stocks today on valuation after the sector's significant outperformance in recent months amid the seasonal "Hope Trade," citing concerns of a disappointing spring selling season. It downgrades KB Home (KBH -3.2%) and Ryland Group (RYL -1.1%) to Underperform, and Lennar (LEN -2.9%), Toll Brothers (TOL -2.1%) and PulteGroup (PHM -0.5%) to Market Perform.
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