Wells Fargo Analyst Sees Opportunity For Homebuilding & Building Product Companies Amid Volatility: The Details
Portfolio Pulse from Lekha Gupta
Wells Fargo analyst Sam Reid initiated coverage on several homebuilding and building products stocks, citing recent volatility as an opportunity. Overweight ratings were given to D.R. Horton Inc, Lennar Corp, Masco Corp, PulteGroup Inc, and Toll Brothers Inc. Mohawk Industries Inc was given an Underweight rating, while Ferguson PLC, KB Home, and Owens-Corning Inc were rated Neutral.
October 17, 2023 | 8:05 pm
News sentiment analysis
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NEGATIVE IMPACT
Mohawk Industries Inc received an Underweight rating from Wells Fargo analyst Sam Reid, who sees a headwind related to EHS-driven demand and soft discretionary big-ticket project demand.
The Underweight rating suggests that the analyst believes MHK's stock will underperform the market in the near future. This could lead to a decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ferguson PLC received a Neutral rating from Wells Fargo analyst Sam Reid, who sees a near-term growth catalyst for the company.
The Neutral rating suggests that the analyst believes FERG's stock will perform in line with the market in the near future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
KB Home received a Neutral rating from Wells Fargo analyst Sam Reid, who is cautious about the company given its exposure to higher owned land numbers and still elevated West Coast exposure.
The Neutral rating suggests that the analyst believes KBH's stock will perform in line with the market in the near future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Owens-Corning Inc received a Neutral rating from Wells Fargo analyst Sam Reid, who is cautious about the company's peakish Roofing/Insulation margins against long-term cyclical category dynamics.
The Neutral rating suggests that the analyst believes OC's stock will perform in line with the market in the near future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
D.R. Horton Inc received an Overweight rating from Wells Fargo analyst Sam Reid, who sees the company as well-positioned to survive near-term rate headwinds.
The Overweight rating suggests that the analyst believes DHI's stock will outperform the market in the near future. This could lead to an increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lennar Corp received an Overweight rating from Wells Fargo analyst Sam Reid, who believes the company's 'assembly line' model will drive growth and long-term operating margin.
The Overweight rating suggests that the analyst believes LEN's stock will outperform the market in the near future. This could lead to an increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Masco Corp received an Overweight rating from Wells Fargo analyst Sam Reid, who cites the company's stability amidst a tough macro environment.
The Overweight rating suggests that the analyst believes MAS's stock will outperform the market in the near future. This could lead to an increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PulteGroup Inc received an Overweight rating from Wells Fargo analyst Sam Reid, who sees the company as a full-package company with a diversified portfolio.
The Overweight rating suggests that the analyst believes PHM's stock will outperform the market in the near future. This could lead to an increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Toll Brothers Inc received an Overweight rating from Wells Fargo analyst Sam Reid, who notes the company's benefits from an affluent buyer mix and virtually no competition at a comparable scale in luxury space.
The Overweight rating suggests that the analyst believes TOL's stock will outperform the market in the near future. This could lead to an increase in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100