BOSTON (MarketWatch) — Ticonderoga Securities on Thursday initiated coverage of the home-builder sector with buy ratings on Lennar Corp. and KB Home , and neutral ratings on D.R. Horton Inc. , Meritage Homes Corp. and Ryland Group Inc. . “We are optimistic that the various government programs focused on housing will create a much improved spring selling season versus the last few years,” said Stephen East at Ticonderoga. “However, our concern lies with the uncertainty of the housing market in the second half of 2010 as the government programs disappear, along with the risk of rising interest rates and continued weak economic growth.” All five builder stocks traded lower Thursday.
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