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PulteGroup (PHM) Stock Upgraded at Barclays

NEW YORK (TheStreet) -- PulteGroup (PHM - Get Report) stock was upgraded to 'equal weight' from 'underweight' at Barclays earlier today. The firm maintained its $18 price target on the stock.

Shares of the home-building company recently traded at a "considerable premium to other large cap builders," but have since pulled back amid a disagreement involving the company's founder, the firm explained.

Barclays likes the PulteGroup's focus on improving profitability and its "best-in-class" balance sheet, and contends that the company's long-term strategy to growth and share buybacks will remain unchanged despite the dispute between its CEO and founder.

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