BTIG analyst Carl Reichardt lowered the firm’s price target on D.R. Horton to $169 from $174 and keeps a Buy rating on the shares. The firm is reducing its FY24 and FY25 EPS estimates by 3%, stating that while its core homebuilding metric assumptions have not changed, it also sees multi-family and single-family rental property sales environment remaining challenging given uncertainty in the capital markets and cautious investor appetite, the analyst tells investors in a research note.
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