TOL - Wells Fargo Analyst Sees Opportunity For Homebuilding & Building Product Companies Amid Volatility: The Details | Benzinga

Wells Fargo analyst Sam Reid initiated coverage on several homebuilding and building products stocks.

The analyst said recent volatility in the homebuilding space offers an opportunity. Reid cites that the high rates pose a barrier for resales but offer interesting TAM implications amid low existing home sales (EHS) builders. 

The analyst initiated coverage at an Overweight rating on:

D.R. Horton Inc (NYSE: DHI) and Lennar Corp (NYSE: LEN) both at a price target of $123.

Masco Corp (NYSE: MAS) at a price target of $58.  

PulteGroup Inc (NYSE: PHM) & Toll Brothers Inc (NYSE: TOL) both at a price target of $80. 

The analyst commenced coverage on Mohawk Industries Inc (NYSE: MHK) at an Underweight rating and Full story available on Benzinga.com