As previously reported, BofA downgraded D.R. Horton (DHI) to Neutral from Buy with a price target of $150, down from $160. Housing demand has moderated with higher rates and input costs are rising, notes the analyst, who believes D.R. is “prudently adjusting to a more challenging backdrop” by slowing starts and increasing share repurchases. However, the firm expects margin headwinds to persist through FY25 and sees limited upside to valuation with shares already trading at premium to other builders with similar return on equity.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DHI:
- D.R. Horton downgraded to Neutral from Buy at BofA
- Forestar Group (FOR) Takes Advantage of the Real Estate Market
- D.R. Horton price target lowered to $204 from $212 at Evercore ISI
- D.R. Horton price target lowered to $171 from $186 at BTIG
- D.R. Horton price target lowered to $145 from $150 at Barclays