Argus analyst Chris Graja raised the firm’s price target on D.R. Horton (DHI) to $185 from $175 and keeps a Buy rating on the shares. The firm is bullish on the need for affordable homes, the relative advantage of large builders in the current environment, the company’s expertise in delivering affordable homes, and its top-tier financial strength in the industry, the analyst tells investors in a research note. A recent catalyst coinciding with a decline of 20 basis points in the benchmark mortgage rate has been President Trump’s statement this month that Fannie Mae and Freddie Mac would buy $200 billion of mortgage-backed securities, the firm added.
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