UPDATE: Topeka Capital Markets Initiates PulteGroup at Buy; Move-Up Buyer Focus To Yield Growth

Topeka Capital Markets initiated coverage on PulteGroup (NYSE: PHM ) with a Buy rating and a $22 price target. Topeka Capital Markets noted, "We believe the catalysts for PulteGroup are pricing power at 70% of active neighborhoods, reduced speculative home sales, and growing demand for move-up homes. We anticipate