D.R. Horton price target lowered to $180 from $210 at Citizens JMP

Citizens JMP lowered the firm’s price target on D.R. Horton (DHI) to $180 from $210 and keeps an Outperform rating on the shares. Market conditions deteriorated during the second quarter, with demand negatively impacted by affordability and the Trump administration’s tariff policies are only reducing the pool of buyers, the analyst tells investors in a research note. While Citizens believes the U.S. is underbuilding housing, and with new apartment deliveries set to fall off a cliff later this year, enough homebuyers should remain in the market to keep homebuilders, the firm acknowledges that tariffs could be impactful on buyers, representing a real risk.