TPH - D.R. Horton Lennar rated Overweight by Atlantic Equities; homebuilders perk up
D.R. Horton (DHI) gains 2.0% and Lennar (LEN) rises 1.5% after Atlantic Equities analyst Sam Hudson picks up coverage of the stocks with an Overweight rating.Sets price target of $90 on DHI, implying 35% upside potential from the stock's closing price on Friday.His $93 target on Lennar implies 32% upside potential vs. Friday's close.Overall, homebuilders claw back some ground lost in the last 10 days of October, with the iShares U.S. Home Construction ETF (ITB) climbing 1.8%, after dropping 11% between Oct. 20 and Oct. 30.By contrast, the S&P 500 is up 0.6% in afternoon trading after sliding 5.0% during the Oct. 20-30 period.ITB consistently lagged the S&P 500 in the past month:Other homebuilder names also showing strength today: PulteGroup ([[PHM]] +1.6%), KB Home ([[KBH]] +1.0%), Toll Brothers ([[TOL]] +1.5%), Beazer Homes USA ([[BZH]] +1.7%), Hovnanian ([[HOV]] +5.5%), and TRI Pointe Group ([[TPH]] +1.6%).
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D.R. Horton, Lennar rated Overweight by Atlantic Equities; homebuilders perk up