Deutsche Bank Starts D.R. Horton (DHI) at Buy, Top Pick

Deutsche Bank analyst Joe Ahlersmeyer initiates coverage on D.R. Horton (NYSE: DHI) with a Buy rating and a price target of $150.00.

The analyst comments "DHI should be able to sustain its leading market positions in its top markets, further consolidate market share overall, and drive growth in new markets organically and inorganically. Several years from now, we see DHI with a greater number of Top 3 market positions in the fifty largest markets, possessing higher share in each of those markets as well as higher overall national share, and we also expect stronger volume growth than any other builder under our coverage. We expect shares to appreciate through a solid one-two punch of reinvestment for growth (community count growth and spec starts) and capital allocation (share repurchases) which should together drive rapid growth in tangible book value per share. We also see upside to valuation as the company continues to outperform peers in the marketplace and demonstrate sustainably higher returns on inventory and equity."

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 $107.39 yesterday.

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