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Article: Ratings changes do little to move Lennar, KB Home
- Article from:
- AP Online
- Article date:
- August 13, 2009
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Surprisingly strong sales results from one homebuilder prompted Raymond James analysts to change its ratings on two others in the industry on Thursday.
After Toll Brothers Inc. posted strong sales for its July quarter, analysts Buck Horne and Paul D. Puryear raised their rating on Lennar Corp. to "Outperform" from "Market Perform," and at the same time cut KB Home to "Underperform" from "Market Perform," citing mainly the price of the stocks in question.
The analysts said Toll Brothers' report "added further weight to the growing body of evidence signaling significant recent improvements in the housing market."
While ...