As previously reported, Wells Fargo downgraded D.R. Horton (DHI) to Equal Weight from Overweight with a price target of $155, down from $180, following the firm’s December web scrape. The firm notes that peer discounting and rising new home inventories confirm gross margin percentage pressure is here to stay. This puts torque out of favor, Wells adds.
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Read More on DHI:
- D.R. Horton downgraded to Equal Weight from Overweight at Wells Fargo
- D.R. Horton price target raised to $132 from $110 at Barclays
- D.R. Horton price target lowered to $180 from $190 at Wells Fargo
- D.R. Horton price target raised to $136 from $130 at JPMorgan
- D.R. Horton initiated with a Buy at BTIG