UPDATE: JPMorgan Downgrades D.R. Horton (DHI) to Neutral

(updating comment)

JPMorgan analyst Michael Rehaut downgraded D.R. Horton (NYSE: DHI) from Overweight to Neutral with a price target of $59.00 (from $42.00).

The analyst comments "We downgrade D.R. Horton (DHI) to Neutral from Overweight, as we view the stock’s valuation – currently at a modest premium to its peers on a P/E basis and a solid premium on a P/B basis – as appropriately reflecting our outlook for above average fundamentals, while additionally, we point to the stock’s outperformance versus its peers both on a YTD basis and versus its prior 2020 high."

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 $56.28 yesterday.

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