D.R. Horton price target raised to $140 from $130 at JMP Securities

JMP Securities analyst Aaron Hecht raised the firm’s price target on D.R. Horton to $140 from $130 and keeps an Outperform rating on the shares following the Q3 results. D.R. Horton’s earnings outperformance was driven by more than 2,400 higher deliveries and a 260bps beat on gross margin, the analyst tells investors in a research note. Demand trends should hold moving forward, the firm contends.