Goldman Sachs Resumes Beazer Homes (BZH) at Neutral
Goldman Sachs resumes coverage on Beazer Homes (NYSE: BZH) with a Neutral. PT $19.00.
The analyst comments, "Beazer has made a solid effort working to return to profitability, but we believe it is too early to get into a name with this higher level of risk. Beazer is working on improving its cost structure and its improvements in gross margins during 2013 have been impressive. We believe the company has ample liquidity and would be helped by the recent land banking agreement to drive expansion plans during the recovery. However, we believe that the Street is now partially pricing this turnaround in and there is still risk to the story. Further, Beazer currently does not have best exposure in our most preferred markets and caters to the lower end."
For an analyst ratings summary and ratings history on Beazer Homes click here. For more ratings news on Beazer Homes click here. Shares of Beazer Homes closed at $17.83 yesterday, with a 52 week range of $2.18-$23.29.
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