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UPDATE: Topeka Capital Markets Initiates DR Horton at Hold on Macro Headwinds

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Topeka Capital Markets initiated coverage on DR Horton (NYSE: DHI) with a Hold rating and a $18 price target.

Topeka Capital Markets noted, "Year-to-date, D.R. Horton's share price is up approximately 50.0% versus an average 110.0% return for the rest of our homebuilder coverage and a 12.1% return for the S&P 500. If the fiscal cliff, QM, and QRM are resolved favorably for housing demand, we believe our concerns about entry-level buyers (approximately 50.0% of DHI's customers) access to mortgage financing would be resolved. At current levels, we believe this positive headline risk is reflected, and we would stay to the side."

DR Horton closed at $18.69 on Thursday.

Latest Ratings for DHI

DateFirmActionFromTo
Nov 2016Evercore ISI GroupInitiates Coverage OnBuy
Sep 2016Wells FargoInitiates Coverage onOutperform
Sep 2016WedbushInitiates Coverage onOutperform

View More Analyst Ratings for DHI
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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