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Fly News Breaks for December 14, 2017
DHI, FOR
Dec 14, 2017 | 06:48 EDT
BTIG analyst Ryan Gilbert raised his price target on D.R. Horton (DHI) to $62, updating his long-term model to reflect the integration, expansion, and leverage of the Forestar (FOR) acquisition. The analyst says D.R. Horton can scale Forestar's development capabilities and free up about $3.7B in cash over the next 8 years which can then be used for buybacks, while also forecasting inventory turns growth of 1.7-times from 1.2-times.
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