Wells Fargo raised the firm’s price target on D.R. Horton to $140 from $123 and keeps an Overweight rating on the shares. The firm expected Q4 to be a positive catalyst and shares are justifiably up. Gross margins are one key driver, with Q4 ASPs a nice positive, Wells adds. All-in, the firm sees more momentum, with D.R. Horton among the best positioned.
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Read More on DHI:
- D.R. Horton price target raised to $143 from $130 at Barclays
- D.R. Horton price target raised to $142 from $131 at Goldman Sachs
- D.R. Horton sees Q1 revenue $7.4B-$7.6B, consensus $7.45B
- D.R. Horton sees FY24 revenue about $36B-$37B, consensus $36.14B
- D.R. Horton reports Q4 net sales orders increased 39% to 18,939 homes