D.R. Horton price target raised to $122 from $116 at BofA

BofA analyst Rafe Jadrosich raised the firm’s price target on D.R. Horton to $122 from $116 and keeps a Buy rating on the shares following fiscal Q2 earnings and guidance that the firm calls out as ahead of expectations. Q2 orders, in particular, were "a significant positive surprise relative to expectations," says the firm, which adds that margins/orders are recovering at a faster pace than the overall housing market is improving.