BUZZ-Barclays cuts US homebuilders PTs on subdued investor view for Q4

Reuters

Jan 16, 2025

** 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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class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-01-16 22:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>** Barclays cuts PTs for homebuilders DR Horton    to $150 from $170, for Pultegroup    to $125 from $140, for Toll Brothers    to $115 from $135</p><p>   ** Brokerage says investors may look for \"further confirmation of choppiness\" for new home construction during Q4 in upcoming earnings season</p><p>   ** \"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</p><p>   ** Brokerage expects builders to update margin and deliveries forecasts to reflect more tepid 2025 outlook as persistent incentives continue to pressure margins</p><p>   ** In 2024, shares of DHI fell 8%, PHM climbed 5.5% and TOL rose 22.5%</p><p> (Reporting by Aatreyee Dasgupta)</p><p>((Aatreyee.Dasgupta@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4596","symbol_name":"哈里斯概念","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2503990545","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503990545","pubTimestamp":1737037429,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** 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% ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4596":"哈里斯概念","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0054578231.USD":"BGF SYSTEMATIC SUSTAINABLE GLOBAL SMALLCAP \"A2\" (USD) ACC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  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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))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}