Forestar Group price target lowered to $36 from $40 at BTIG

BTIG lowered the firm’s price target on Forestar Group (FOR) to $36 from $40 and keeps a Buy rating on the shares as part of a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates, the analyst tells investors in a research note.