NVR price target lowered to $8,570 from $9,245 at JPMorgan

JPMorgan lowered the firm’s price target on NVR (NVR) to $8,570 from $9,245 and keeps a Neutral rating on the shares following the Q4 report. Demand in the quarter was noted as “a little choppy” as affordability and buyer confidence was impacted by the increase in mortgage rates during the period, the analyst tells investors in a research note. The firm continues to view the stock’s risk/reward on a relative basis as fairly balanced.