BofA lowered the firm’s price target on D.R. Horton to $168 from $182 and keeps a Buy rating on the shares. The company’s Q2 earnings and Q3 outlook were slightly ahead of expectations as demand has held up so far despite higher rates, the analyst tells investors. However, while the firm raised its FY24 and FY25 EPS estimates by 1% each, it lowers it price target on the shares given the more challenging macro backdrop from higher mortgage rates.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DHI:
- DHI Earnings: D.R. Horton Jumps on Robust Q2 Performance
- Options Volatility and Implied Earnings Moves Today, April 18, 2024
- D.R. Horton reports Q2 homes closed increased 15% to 22,548 homes
- D.R. Horton raises FY24 revenue view to $36.7B-$37.7B from $36B-$37.3B
- D.R. Horton reports Q2 EPS $3.52, consensus $3.06
Questions or Comments about the article? Write to editor@tipranks.com