NVR price target raised to $7,930 from $6,950 at Seaport Research

Seaport Research raised the firm’s price target on NVR to $7,930 from $6,950 and keeps a Buy rating on the shares. The firm favors high return on equity builders heading into 2024. It expects builders margins to broadly be bottoming, as past incentives ease, partly offset by rising input cost, with a rising cash-cost divergence among builders’ gross margins. Seaport expects higher-turn builders will fare best, as turns support both cash-flow, and an ability to guide demand upward, if need, the analyst tells investors in a research note.