D.R. Horton price target raised to $164 from $139 at BTIG

BTIG analyst Carl Reichardt raised the firm’s price target on D.R. Horton to $164 from $139 and keeps a Buy rating on the shares. The company reported another “blowout quarter” with a beat in all key metrics – average selling price, margins, and cost to sales – while the management also offered “strong guidance”, the analyst tells investors in a research note. The most important takeaway in the quarter is that the supply chain is improving at a faster rate than anticipated, which will allow D.R. Horton to keep backlog conversion rates, BTIG added.