KB Home (KBH) PT Lowered to $56 at BofA Securities

BofA Securities analyst Rafe Jadrosich lowered the price target on KB Home (NYSE: KBH) to $56.00 (from $63.00) while maintaining a Neutral rating.

The analyst comments "KBH reported F1Q26 (ended February) EPS of $0.52, below consensus of $0.55. KBH lowered FY deliveries to 10k-11.5k (from 11k-12.5k), and guided F2Q below our expectations. KBH expects to provide FY margin outlook with the F2Q earnings results. We cut our F2026E EPS estimates by (16%) on weaker FY delivery and F2Q margin outlook. We lower our PO to $56 (from $63) still based on 0.9x 12-month forward book to reflect a lower ROE. We reiterate Neutral – KBH shares trade below book, which we think is justified with F2026E ROE <7%."

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