Forestar Group price target raised to $35 from $30 at Citizens JMP

Citizens JMP raised the firm’s price target on Forestar Group (FOR) to $35 from $30 and keeps an Outperform rating on the shares. Forestar’s Q4 EPS beat was driven by a $103M tract sale that was not built into expectations, the analyst tells investors in a research note. While affordability continues to be a headwind for homebuilders, the firm would be concerned with the ability of residential land developers to deliver strong results in 2026, but as Forestar’s largest customer is D.R. Horton (DHI) and downside is limited, Citizens says.