** Barclays cuts PTs for homebuilders DR Horton to $150 from $170, for Pultegroup to $125 from $140, for Toll Brothers to $115 from $135
** Brokerage says investors may look for "further confirmation of choppiness" for new home construction during Q4 in upcoming earnings season
** "The momentum around rate cuts driving demand for new homes higher this year has all but evaporated, inventory levels have increased and we expect margin pressure to mount," Barclays says
** Brokerage expects builders to update margin and deliveries forecasts to reflect more tepid 2025 outlook as persistent incentives continue to pressure margins
** In 2024, shares of DHI fell 8%, PHM climbed 5.5% and TOL rose 22.5%
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))
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