JP Morgan Still Likes Housing, Just a Little Less

In a note out today, analyst Michael Rehaut of JP Morgan provides an update on the homebuilder stocks through year-end. While still bullish, Mr. Rehaut has taken a more guarded stance, as noted in the quote below: "More broadly, we expect the housing recovery to resume at a moderate pace over at least the next 2-3 years (assuming rates increase at a modest and measured pace), driven by continued job growth and a further modest easing of credit standards" The firm revised Price targets and ratings on the housing stocks, with some notables below: -Beazer Homes

- previous price target 22 -new price target 23.50- overweight -DR Horton

-previous price target 21-new price target 26-overweight -PulteGroup

-previous price target 19-new price target 22-neutral -Ryland Group

-previous price target 43-new price target 47-overweight -Toll Brothers

-previous price target 34-new price target 34-underweight