JMP Securities analyst Aaron Hecht raised the firm’s price target on D.R. Horton to $115 from $95 and keeps an Outperform rating on the shares after its Q1 earnings beat. The quarter outperformed on higher deliveries and a 120bps gross margin beat, the analyst tells investors in a research note. JMP further contends that D.R. Horton will navigate this housing cycle downturn better than its peers due to "superior scale, the right product price point, and ideal corporate structure and leadership".
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Read More on DHI:
- Wedbush downgrades D.R. Horton to Neutral, lowers price target to $96
- D.R. Horton downgraded to Neutral from Outperform at Wedbush
- D.R. Horton price target raised to $99 from $98 at Goldman Sachs
- D.R. Horton: Goal is to generate FY23 revenue slightly higher than FY22
- D.R. Horton sees Q2 revenue $6.3B-$6.7B, consensus $6.53B