D.R. Horton price target raised to $145 from $135 at Argus

Argus raised the firm’s price target on D.R. Horton to $145 from $135 and keeps a Buy rating on the shares. The company is continuing to reduce prices and home sizes to provide better affordability and generate cash, while its management is seeing signs that sales and incentives are beginning to stabilize, the analyst tells investors in a research note. The firm further cites D.R. Horton’s latest earnings call, where its Chairman Donald Horton noted that despite higher mortgage rates and inflationary pressures, Q3 net sales orders rose 37%.