Seeking Alpha

Toll Bros. and Pulte cut at Credit Suisse

  • Three more downgrades hit the homebuilders, with Toll Brothers (TOL), PulteGroup (PHM), and William Lyons (WLH) being cut from Buy to Hold at Credit Suisse. At the moment, a combination of higher mortgage rates and higher home prices has the Street worried about the sector.
  • On Monday a different set of homebuilders suffered three downgrades at the hands of BAML and Citigroup.
  • TOL -1.5% premarket
  • ETFs: XHB, ITB
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