From Yahoo Finance: 2024-04-02 12:40:09

Wedbush downgraded shares of five homebuilder stocks due to seasonality headwinds, expecting a normal decline in demand. The firm lowered price targets for Century Communities, LGI Homes, and Meritage Homes Corporation while keeping them unchanged for DR Horton and Lennar shares. Earnings estimates remain the same for all five stocks. The bearish call comes as all five stocks, except for Lennar, have underperformed since the year began. Wedbush analyst Jay McCanless anticipates the same storyline in the second quarter due to high mortgage rates. Experts believe rates might decline in the back half of the year, but McCanless disagrees.



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