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BUZZ-KB Home rises on upbeat 2025 housing revenue forecast

ReutersJan 14, 2025 6:07 PM

Updates

** Shares of homebuilder KB Home KBH.N rise 3.1% to $66.15

** Company forecasts 2025 housing revenue to be in the range of $7.00 bln to $7.50 bln, compared with $6.90 bln in 2024

** Reports Q4 rev. of $2 bln, up 19% and roughly in line with Wall Street estimates

** Post results, BofA Global Research cuts price objective to $76 and UBS cuts PT to $97; while Wells Fargo raises PT to $70

** "We see risk that KBH could have to increase the level of incentives to achieve its revenue guidance for the full year if mortgage rates remain elevated," BofA says

** 4 of 16 brokerages rate the stock "buy", 9 "hold" and 3 "sell" or lower; their median PT is $76, according to data compiled by LSEG

** Including session's move, KBH up ~1% YTD, adding to the 5.2% gain last year

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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