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D.R. Horton price target lowered to $105 from $125 at RBC Capital

RBC Capital lowered the firm’s price target on D.R. Horton (DHI) to $105 from $125 and keeps an Underperform rating on the shares. The firm cites the company’s “sharp” Q2 order miss and lower FY25 delivery outlook, noting that while Q3 gross margin guide was better than feared, RBC continues to view the “direction of travel” as lower, the analyst tells investors in a research note. Incentives are continuing to rise, the broader rate/macro backdrop remains highly volatile, cost pressures are on the horizon, and consumer weakness remains a risk, RBC adds.

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