Hot Stocks to Buy: PulteGroup, Inc. (PHM)
Housing stocks are back on the bullish list and PulteGroup, Inc. (NYSE:PHM) is a great example. PHM is trading 35.6% higher for 2017 and following a strong long-term bullish trend that will continue to attract buyers.
We’ve seen some short sellers covering their positions over the last few months, which indicates that the “crowd” is starting to give up on this stock as a straw man and accepting the fact that the rally is real. The analysts should be the next group to capitulate.
Currently, 43% of the Wall Street analysts covering PHM stock have it ranked a buy leaving plenty of room for the stock to move higher as this group starts to cover themselves by upgrading PulteGroup to a buy.
We’re expecting to see these upgrades to move the stock to our target of $27.50.