UPDATE: Sterne Agee Upgrades Beazer Homes Ahead of Earnings

On Wednesday, Sterne Agee upgraded shares of Beazer Homes (NYSE: BZH) from Neutral to Buy ahead of the companies second quarter earnings release Thursday morning.

In addition to the upgrade, analyst Jay McCanless raised “FY14E/FY15E EPS to $0.44/$13.69 from $0.38/$13.48 to reflect lower interest expense assumptions due to BZH's recent debt refinancing.”

Shares are up 1.68 percent to $19.07 in Wednesday's trading.