BofA lowered the firm’s price target on D.R. Horton (DHI) to $165 from $175 and keeps a Neutral rating on the shares. Housing demand has been sluggish and incentives are still elevated, notes the analyst, who believes policy uncertainty is an overhang to multiples in the space. The firm lowered price targets on the homebuilders it covers by 6% on average as it expects sentiment to be hampered by policy uncertainty.
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