Citi downgraded D.R. Horton to Neutral from Buy with a price target of $156, down from $181. The analyst reduced estimates to reflect softening housing activity this summer. D.R. Horton’s long-term positives from structural housing undersupply, an asset-light model and strong balance sheet are balanced by some softening of housing fundamentals, the analyst tells investors in a research note. Further, Citi sees limited near-term catalysts for the stock until 2025, with September rate cuts at least partially priced in. It finds D.R. Horton’s valuation as fair at current levels.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DHI:
- D.R. Horton Stock (NYSE:DHI): The H2-2024 Slowdown Is Likely Temporary
- D.R. Horton to offer Canadian Solar PV panels in California communities
- D.R. Horton announces the passing of company Founder, Chairman, Donald Horton
- D.R. Horton price target lowered to $181 from $191 at Citi
- Soros buys Okta, cuts Amazon in Q1