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Here are the biggest calls on Wall Street on Monday:
Wells Fargo upgraded the home builder and said it could no longer "sit on the sidelines" as buyers re-engage the U.S. housing market.
"Over the past several years, there have been consistent hurdles preventing us from a more constructive rating, leading us to admittedly miss some opportunities. With every PHM consumer end-market working today and a discounted valuation, we can no longer sit on the sidelines. PHM's strong June Order growth has extended into July as the average American buyer has re-engaged the housing market, while PHM's continued modest shift toward EL should augment their improving Absorptions. We have always appreciated PHM's balanced, consistent and calculated approach to its business.
Pivotal upgraded the footwear manufacturer and said it thinks the company's sales are going to exceed expectations.
"On June 3rd, WWW provided a 2Q update, noting that sales were exceeding plan through the first nine weeks of the quarter, driven by strength in its Merrell, Saucony, Wolverine and CAT brands. At that time, the company was expecting similar trends over the balance of the quarter. We think WWW did better than this. In short, we believe the company's brands and the overall retail environment improved sequentially from April/May to June. As such, we've raised our 2Q sales and EPS estimates."