Wedbush more bearish on D.R. Horton, downgrades to Underperform

As previously reported, Wedbush analyst Jay McCanless downgraded D.R. Horton to Underperform from Neutral with a $130 price target. The firm notes 2024 has been the most “normal” year seen for the home building industry since 2019 in terms of normal seasonality. Consequently, Wedbush believes these names could see a normal seasonal stock price decline into the summer especially after the seasonal trade window closes in April/May.