PulteGroup (PHM -2%) is downgraded to Neutral from Buy by UBS, which notes shares have climbed 129% since September, well ahead of other home builders and the S&P 500; the stock now trades at 1.5x current book value. Although PHM is making strides in efforts to narrow relative underperformance, UBS believes upside is limited from current levels.
PulteGroup (PHM -2%) is downgraded to Neutral from Buy by UBS, which notes shares have climbed...
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