KB Home shares climbed on Thursday after Credit Suisse boosted its rating on the stock, citing strength at the low end of the market and valuation.
The firm raised the homebuilder to "outperform" from "neutral" with a $13 price target and said it expects solid order trends through the second half of 2009, with the recent pullback in the stock providing an attractive entry point.
What’s next for housing?
I think the next big catalyst is Treasurys, explains Jon Najarian. Right now long term fixed-rate mortgages are at 6-week lows. If the yield on long term Treasurys dips lower I expect it could take mortgage rates with it.
That’s good news for anyone in the market for a new home so you might want to start watching real estate more closely. It might be time to get into this trade.
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