UBS Remains 'Cautious' On Beazer Shares
15 9월 2009 - 4:01AM
Dow Jones News
UBS analyst David Goldberg in a note Monday raised his target
price on Beazer Homes USA Inc. (BZH) shares to $4.25 from $2.75 but
said he remains "cautious" on the home-builder's stock.
"Although the company's liquidity remains a concern (especially
given the possibility of tripping covenants, though we don't expect
this to be an issue for at least nine months) we believe the
potential downside from the current valuation warrants a neutral
rating," Goldberg wrote. "Accordingly, we're on the sidelines,
awaiting better visibility on management's plans to improve its
financial flexibility."
Beazer shares were off 2.36% to $4.10 in recent action.
-By John Spence, 415-439-6400; AskNewswires@dowjones.com