Topeka Capital Starts D.R. Horton (DHI) at Hold

Topeka Capital initiates coverage on D.R. Horton (NYSE: DHI) with a Hold. PT $18.00.

The firm comments, "Year-to-date, D.R. Horton's share price is up approximately 50.0% versus an average 110.0% return for the rest of our homebuilder coverage and a 12.1% return for the S&P 500. If the fiscal cliff, QM, and QRM are resolved favorably for housing demand, we believe our concerns about entry-level buyers (approximately 50.0% of DHI's customers) access to mortgage financing would be resolved. At current levels, we believe this positive headline risk is reflected, and we would stay to the side."

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 $18.69 yesterday.

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