Dream Finders Homes price target raised to $45 from $29 at BofA

BofA raised the firm’s price target on Dream Finders Homes to $45 from $29 and keeps a Neutral rating on the shares. The firm expects 2024 to be another year of double digit revenue growth, the analyst tells investors in a research note. BofA sees a balanced risk-reward, and while Dream Finders’ asset-light model and higher leverage ratio will support a higher return-on-equity relative to the other homebuilders, it already trades at a premium to the group, the firm says.