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Wildbill729

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Wildbill729

Re: None

Tuesday, 06/17/2008 8:51:06 AM

Tuesday, June 17, 2008 8:51:06 AM

Post# of 648882
UBS ups Hovnanian to neutral on valuation

By Steve Goldstein
Last update: 7:51 a.m. EDT June 17, 2008
LONDON (MarketWatch) -- Home builder Hovnanian Enterprises (HOV:Hovnanian Enterprises, Inc
News, chart, profile, more
Last: 6.67+0.21+3.25%

4:03pm 06/16/2008

HOV 6.67, +0.21, +3.3%) was upgraded to neutral from sell at UBS as the broker noted that the company's stock price has dropped 45% since April 29, vs. a 30% fall for the group. However, UBS cut its price target to $7 from $9 on expectations it will underperform rivals in the near term.
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