BTIG raised the firm’s price target on D.R. Horton to $190 from $168 and keeps a Buy rating on the shares after its Q3 earnings beat that was driven by higher homebuilding gross margin and higher average selling price. D.R. Horton looks well-positioned to outsell peers given its deep local market-share positions, low-cost and efficient-production business model, breadth of geographic markets, and affordable entry-level home focus, while carrying low leverage and producing high returns, the analyst tells investors in a research note.
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