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Fly News Breaks for January 28, 2020
Jan 28, 2020 | 08:23 EDT
RBC Capital analyst Michael Dahl raised his price target on D.R. Horton to $55 after its "strong" Q1 beat and slight guidance raise, saying he expects continued market strength into the spring selling season. The analyst adds that the company's position in entry-level and local scale markets will remain tailwinds and may also push price higher given that "affordable" housing supply remains tight. Dahl still keeps his Underperform rating on the stock however, reflecting the 5% decline in its inventory and slowing backlog growth, which may limit further market outgrowth "until community growth inflects."
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