BofA analyst Rafe Jadrosich raised the firm’s price target on D.R. Horton to $130 from $122 and keeps a Buy rating on the shares. BofA sees slightly better-than-normal seasonality on Q2 orders given robust new home demand through early June and sequential improvement in gross margins in 2H23 on lower incentives and better pricing and modest input cost tailwinds, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on DHI:
- D.R. Horton transferred with a Buy at Seaport Research
- ‘House Prices Are Set to Plunge,’ According to Elon Musk, but Deutsche Bank Smells Opportunity in These Homebuilder Stocks
- Analysts Say Buy These 2 Housebuilder Stocks as the Housing Market Is Showing Signs of Comeback
- D.R. Horton price target raised to $125 from $114 at Keefe Bruyette
- D.R. Horton price target raised to $100 from $85 at Credit Suisse