First American price target lowered to $63 from $65 at Barclays

Barclays lowered the firm’s price target on First American to $63 from $65 and keeps an Overweight rating on the shares. The company’s Q1 earnings substantially missed estimates, but the quarter will be the earnings trough as commentary suggests seasonal residential and commercial improvements over the second half of 2023, the analyst tells investors in a research note. The firm sees an attractive entry point at current share levels.