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DHI

D.R. Horton

$37.35

0.03 (0.08%)

, MTH

Meritage Homes

$38.33

-0.75 (-1.92%)

07:25
11/30/18
11/30
07:25
11/30/18
07:25

Wedbush still 'cautiously positive' on homebuilders

Wedbush analyst Jay McCanless said he is maintaining a "cautiously positive" stance on homebuilders, telling investors in a research note that the drivers of housing demand include demographics, a lack of supply, rising job creation, and consumer confidence, which appear to be heading in the direction for affordably priced housing. As a result, McCanless says he would focus on names with a growing presence in entry level and price points at or below local median names, including D.R. Horton (DHI), Meritage Homes (MTH) and Lennar (LEN).

DHI

D.R. Horton

$37.35

0.03 (0.08%)

MTH

Meritage Homes

$38.33

-0.75 (-1.92%)

LEN

Lennar

$43.05

-0.82 (-1.87%)

  • 05

    Dec

DHI D.R. Horton
$37.35

0.03 (0.08%)

10/17/18
FBCO
10/17/18
NO CHANGE
Target $45
FBCO
Outperform
D.R. Horton price target lowered to $45 from $50 at Credit Suisse
Credit Suisse analyst Susan Maklari lowered her price target for D.R. Horton to $45 from $50 given broader multiple compression across the group. Nonetheless, the analyst looks for D.R. Horton to benefit from greater margin expansion given its above average level of spec construction, allowing it to more effectively respond to ongoing labor shortages and compete with existing homes, as well as its continuous focus on cost controls benefiting profitability. She reiterates an Outperform rating on the shares.
11/09/18
BTIG
11/09/18
NO CHANGE
Target $52
BTIG
Buy
D.R. Horton price target lowered to $52 from $62 at BTIG
BTIG analyst Carl Reichardt lowered his price target on D.R. Horton to $52, saying its Q4 earnings topped consensus but margins missed. The analyst also cites the company's pulled FY19 revenue growth and pre-tax margin guidance and light Q1 outlook based on a recent "choppy" demand. Reichard keeps his Buy rating on the shares however, stating that D.R. Horton is well positioned to gain market share due to its low-cost production, strong balance sheet, and diverse geographic market.
11/16/18
ARGS
11/16/18
NO CHANGE
Target $47
ARGS
Buy
D.R. Horton price target lowered to $47 from $57 at Argus
Argus analyst Chris Graja lowered his price target on D.R. Horton to $47 and also reduced his long-term earnings growth rate assumption to 9% from 12% to reflect the declining housing affordability from the recent home price appreciation and higher mortgage rates. The analyst anticipates the 30-year mortgage rates to reach as high as 5.15% in 2019 and 2020, adding that while this may not "crush the housing market", it suggests that home price appreciation will be stalled by the slower growth of household income. Graja also lowers his FY19 EPS view by 15c to $4.30, keeping his Buy rating but noting that it may be cut if his earnings outlook or price target are reduced any further.
11/20/18
BOFA
11/20/18
NO CHANGE
BOFA
D.R. Horton, Kansas City Southern removed from US 1 List at BofA/Merrill
MTH Meritage Homes
$38.33

-0.75 (-1.92%)

10/22/18
DBAB
10/22/18
UPGRADE
Target $47
DBAB
Buy
Meritage Homes upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Nishu Sood upgraded Meritage Homes to Buy with an unchanged price target of $47. Homebuilding stocks have dramatically underperformed the market year-to-date on housing slowdown and price-cost fears, Sood tells investors in a research note. The analyst says his debt-to-incomes charts "continue to paint a picture of a housing market that is both at the end of its affordability rope and prone to further downside if rates continue to increase." He sees downside to fiscal 2019 earnings estimates. Sood prefers builders with exposure to entry-level as he believes demographic trends provide demand.
10/25/18
EVER
10/25/18
UPGRADE
Target $43
EVER
Outperform
Meritage Homes upgraded to Outperform on valuation at Evercore ISI
As previously reported, Evercore ISI upgraded Meritage Homes to Outperform from In Line and trimmed its price target to $43 from $47. Analyst Stephen Kim said the Homebuilders group has sold off sharply and is now trading at a 20% discount to book values, a traditional buy signal.
10/25/18
EVER
10/25/18
UPGRADE
EVER
Outperform
Meritage Homes upgraded to Outperform from In Line at Evercore ISI
10/17/18
FBCO
10/17/18
DOWNGRADE
Target $36
FBCO
Neutral
Meritage Homes downgraded to Neutral on limited upside at Credit Suisse
As previously reported, Credit Suisse analyst Susan Maklari downgraded Meritage Homes to Neutral from Outperform and lowered her price target on the shares to $36 from $50. Over the last several quarters, Meritage has benefited from efforts to drive improvements in operations in its East region as well as the rollout of its entry level targeted homes, she notes. Although she looks for these initiatives to continue to be reflected in results, Maklari believes much of the initial gains have been captured and as comparisons become more difficult, she expects limited upside to the current valuation.
LEN Lennar
$43.05

-0.82 (-1.87%)

10/29/18
WEDB
10/29/18
UPGRADE
WEDB
Outperform
Lennar upgraded to Outperform from Neutral at Wedbush
10/29/18
10/29/18
UPGRADE
Target $50

Outperform
Lennar upgraded to Outperform on possible divestitures, rising demand at Wedbush
As previously reported, Wedbush analyst Jay McCanless upgraded Lennar to Outperform from Neutral and lowered his price target on the stock to $50 from $56 on potential divestitures and rising demand. The analyst believes the pullback in the shares has discounted a buyer's strike in key West Coast geographies and potential near-term headwinds from the recent hurricanes including unusually tight labor availability, municipal and utility delays, and a slower pace of community openings.
11/28/18
JPMS
11/28/18
NO CHANGE
JPMS
JPMorgan remains cautious on Homebuilders after new home sales miss
JPMorgan analyst Michael Rehaut remains cautious on Homebuilding stocks after October new home sales fell 9%, below the Street's estimate of 4%. The analyst expects a "fairly tepid" recovery in housing starts to continue in 2019 and believes the current softness may last for a few more months. Further, he thinks builder fundamentals will moderate over the next two years. His Overweight-rated builders include Lennar (LEN), LGI Homes (LGIH) and William Lyon Homes (WLH). His Overweight-rated names in building products include Masonite (DOOR), Fortune Brands (FBHS) and Stanley Black & Decker (SWK).
10/22/18
DBAB
10/22/18
UPGRADE
Target $51
DBAB
Buy
Lennar upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Nishu Sood upgraded Lennar to Buy while lowering his price target for the shares to $51 from $58. Homebuilding stocks have dramatically underperformed the market year-to-date on housing slowdown and price-cost fears, Sood tells investors in a research note. The analyst says his debt-to-incomes charts "continue to paint a picture of a housing market that is both at the end of its affordability rope and prone to further downside if rates continue to increase." He sees downside to fiscal 2019 earnings estimates. Sood prefers builders with exposure to entry-level as he believes demographic trends provide demand.

TODAY'S FREE FLY STORIES

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ESPR

Esperion

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2.25 (5.81%)

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BA

Boeing

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  • 14

    Nov

IGT

International Game

$13.18

-0.31 (-2.30%)

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International Game call volume above normal and directionally bullish »

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  • 14

    Nov

TTD

Trade Desk

$223.58

6.47 (2.98%)

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Amazon.com

$1,785.43

13.73 (0.77%)

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Trade Desk

$223.58

6.47 (2.98%)

AMZN

Amazon.com

$1,785.43

13.73 (0.77%)

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LKFN

Lakeland Financial

$47.28

0.13 (0.28%)

11:02
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11:01
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Conference/Events
Wedbush tech strategist to hold an analyst/industry conference call »

Technology Strategist…

RUN

Sunrun

$14.61

0.2 (1.39%)

10:55
11/12/19
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Options
Sunrun put volume heavy and directionally bearish »

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    Nov

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Conference/Events
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DOX

Amdocs

$67.14

0.12 (0.18%)

10:54
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Conference/Events
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  • 12

    Nov

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VRTX

Vertex

$203.56

1.66 (0.82%)

10:53
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  • 19

    Mar

ABBV

AbbVie

$87.46

1.82 (2.13%)

, AGN

Allergan

$182.96

2.92 (1.62%)

10:52
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Periodicals
AbbVie preps $27B bond sale to finance Allergan deal, FT reports »

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ABBV

AbbVie

$87.46

1.82 (2.13%)

AGN

Allergan

$182.96

2.92 (1.62%)

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  • 07

    Dec

CMBM

Cambium Networks

$7.67

(0.00%)

10:51
11/12/19
11/12
10:51
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Conference/Events
Cambium Networks management to meet with JPMorgan »

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  • 13

    Nov

AER

AerCap

$61.01

0.72 (1.19%)

10:50
11/12/19
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10:50
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Conference/Events
AerCap management to meet with JPMorgan »

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  • 13

    Nov

WBA

Walgreens Boots Alliance

$62.35

0.09 (0.14%)

10:46
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Walgreens Boots Alliance analyst commentary  »

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  • 12

    Nov

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    Nov

QSR

Restaurant Brands

$67.39

-0.15 (-0.22%)

10:45
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Options
Restaurant Brands call volume above normal and directionally bullish »

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10:45
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F

Ford

$9.11

0.03 (0.33%)

, GM

General Motors

$38.89

0.18 (0.46%)

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F

Ford

$9.11

0.03 (0.33%)

GM

General Motors

$38.89

0.18 (0.46%)

HMC

Honda

$29.35

0.15 (0.51%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$145.00

-0.07 (-0.05%)

TSLA

Tesla

$348.78

3.71 (1.08%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.21

0.1 (0.62%)

VWAGY

Volkswagen

$0.00

(0.00%)

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  • 19

    Nov

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    Dec

  • 04

    Feb

KSS

Kohl's

$56.48

-0.56 (-0.98%)

10:35
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Kohl's put volume heavy and directionally bearish »

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  • 19

    Nov

10:35
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General news
FX Action: USD-JPY »

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DIS

Disney

$139.04

2.3 (1.68%)

10:31
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Disney says Disney+ 'exceeded our high expectations,' working on glitches »

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KHC

Kraft Heinz

$32.77

0.01 (0.03%)

10:25
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Kraft Heinz call volume above normal and directionally bullish »

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RHHBY

Roche

$0.00

(0.00%)

10:25
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Roche to hold a conference call »

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REPL

Replimune Group

$17.24

0.11 (0.64%)

10:25
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