KeyBanc upgraded Meta Platforms (NASDAQ:META) to Overweight from Sector Weight with a price target of $240.00, noting it now sees the company as a leaner business after the announcement of the second big round of layoffs. This comes just one and two days after Morgan Stanley and Edward Jones upgraded the stock. KeyBanc believes the latest cost-cutting measures, which led to an approximately 10% reduction in the company's 2023 operating expense guidance, along with improvements in CPMs due to a combination of product launches, foreign exchange rates, and better spending practices, will result in an operating margin of at least 31% by 2024.
In the latest trading session, PulteGroup (PHM) closed at $55.82, marking a +0.83% move from the previous day.
LAKEWOOD RANCH, Fla., March 21, 2023--In its 10th year of providing mortgage-free homes to deserving veterans, national homebuilder PulteGroup has broken ground on a new home for U.S. Army Sergeant First Class Lucio Gaytan. Awarded through its Built to Honor® program, the Gaytan family will join Pulte’s Sapphire Point at Lakewood Ranch community when the home is complete later this year.