Stock Track | PulteGroup Soars 5.15% Intraday as Citigroup Raises Price Target

Stock Track02-03 23:18

PulteGroup's stock surged 5.15% during intraday trading on Tuesday, marking a significant upward movement for the homebuilder.

The sharp rise appears to be driven by positive analyst sentiment, specifically an upward revision of the company's price target. Citigroup adjusted its price target on PulteGroup to $136 from $128, providing a bullish signal to the market. According to data from FactSet, PulteGroup maintains an average analyst rating of overweight with a mean price target of $140.58.

While other analysts have expressed conflicting views on consumer cyclical companies including PulteGroup, the market reacted favorably to Citigroup's increased target, contributing to the stock's strong performance during the session.

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