D.R. Horton upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Susan Maklari upgraded D.R. Horton to Buy from Neutral with a price target of $131, down from $132. The analyst says limited for-sale inventory, constrained affordability, and greater velocity in mortgage rates should drive increased consumer preference for quick move-in homes. D.R. Horton “should leverage its operating acumen against this, driving upside to results,” the analyst tells investors in a research note. Goldman says that although macro uncertainty and seasonality will likely be a near-term overhang, this is fully reflected in the stock’s valuation.