KeyBanc analyst Kenneth Zener raised the firm’s price target on D.R. Horton to $97 from $84 and keeps an Overweight rating on the shares. The analyst cites rising stock levels amid volatile market trends, with his absolute targets reflecting implied market out-performance more than an intrinsic valuation, given ongoing macro pressure superseding near-term fundamentals. Amid deteriorating housing data, Zener reiterates a Bullish Builder thesis RIP, based on a favorable risk to return versus the market.
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Published first on TheFly
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