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

Goldman Sachs analyst Susan Maklari downgraded D.R. Horton (NYSE: DHI) from Buy to Neutral with a price target of $119.00.

The analyst comments "Although we acknowledge DR Horton’s operational acumen, and look for it to continue to leverage gains in the entry level segment, we believe much of this is reflected in the current valuation. This comes as Street forecasts are reflective of mgmt’s initial expectations for F2022, 1.4% above our EPS estimate. As such, while we recognize its ongoing ability to invest in growth, allowing it to incrementally expand market share while also keeping a close eye to costs and construction efficiencies, we believe upside in the stock is limited, especially given the 5% move since its F4Q21 print vs 1% for our homebuilding coverage. With this, we are moving to the sidelines, downgrading the stock to Neutral from Buy."

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 $100.67 yesterday.

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