BofA lowered the firm’s price target on D.R. Horton to $168 from $182 and keeps a Buy rating on the shares. The company’s Q2 earnings and Q3 outlook were slightly ahead of expectations as demand has held up so far despite higher rates, the analyst tells investors. However, while the firm raised its FY24 and FY25 EPS estimates by 1% each, it lowers it price target on the shares given the more challenging macro backdrop from higher mortgage rates.
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