KeyBanc Upgrades D.R. Horton (DHI) to Buy

KeyBanc upgraded D.R. Horton (NYSE: DHI) from Hold to Buy with a price target of $30.00.

Analyst Kenneth R. Zener said, "We are upgrading DHI to BUY from HOLD as we think DHI will outgrow peers by focusing on lower priced homes lift closings despite a flat community count. DHI’s “Express Homes” (aka Ford meets Levittown) targets sub-$200,000 buyers and addresses the high-price issue underlying our “Quantity Not Quality” thesis. Our $30 price target equals 1.9x our FY15 book value vs. 1.5x for peers. We raised our FY15 EPS to $1.92 from $1.71 on higher deliveries."

For an analyst ratings summary and ratings history on D.R. Horton click here. For more ratings news on D.R. Horton click here.

Shares of D.R. Horton closed at $26.06 yesterday.

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