UPDATE: Bank of America Reiterates Buy Rating, Raises PT on D.R. Horton

In a report published Wednesday, Bank of America reiterated its Buy rating on D.R. Horton DHI, and slightly raised its price target from $25.00 to $26.00. Bank of America noted, “We rate DHI a Buy. DHI's speculative home strategy and broad market exposure position the company well for a housing rebound. Margins should continue to expand given DHI's participation in growing end markets, operating leverage, and cost focus. Moreover, the company has repositioned its balance sheet resulting in a more favorable debt profile.” D.R. Horton closed on Tuesday at $23.82.