D.R. Horton price target raised to $131 from $114 at Barclays

Barclays analyst Matthew Bouley raised the firm’s price target on D.R. Horton to $131 from $114 and keeps an Overweight rating on the shares. The analyst "sharply" raised estimates following the company’s "strong" fiscal Q2 beat. D.R. Horton delivered the millionth home in the company’s history this quarter, and with a raise to fiscal 2023 delivery guidance, it is continuing to build on its history of delivering affordable housing, the analyst tells investors in a research note. In today’s housing market, the firm thinks the company’s print "represents a key point in this cycle" for builder stocks, as prior concerns around impairment risk, interest rates, and inflation are "clearly being overshadowed by the overwhelming effects of depleted housing inventory."