UPDATE: Stifel Nicolaus Upgrades D. R. Horton to Hold on Valuation, Housing Upside
Stifel Nicolaus raised its rating on D. R. Horton (NYSE: DHI) from Sell to Hold.
Stifel Nicolaus said, "We view the homebuilding sector as richly valued overall, but also see housing as in the early stages of a secular recovery and offering strong sustained tailwinds to broader economic recovery for the next three years. We expect that to support homebuilder valuations remaining robust. … As for DHI, its strong 2012 return (+56.9% vs. the S&P 500's +13.4%) was less than half that of the +123% homebuilding average. In our view the sizable valuation premium that it held a year ago for its top quality management, market share leading position, and robust balance sheet has more or less vanished."
D. R. Horton closed at $20.39 on Wednesday.
Latest Ratings for DHI
|Mar 2015||JMP Securities||Upgrades||Market Perform||Market Outperform|
|Mar 2015||Keefe Bruyette & Woods||Maintains||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.