Forestar Group price target lowered to $32 from $39 at Citi

Citi lowered the firm’s price target on Forestar Group (FOR) to $32 from $39 and keeps a Buy rating on the shares following the fiscal Q1 miss on double-digit year-over-year decline in delivery volumes. The firm says Forestar’s volumes “tend to be choppy” quarter-to-quarter, and notes management reiterated fiscal 2025 volume and revenue guidance, describing the softer Q1 volumes as the result of a timing issue.