Sterne Agee Reacts To News of D.R. Horton, Inc. CEO's Retirement

Courtesy of Benzinga.

In a report published Wednesday, Sterne Agee analyst Jay McCanless reiterated a Buy rating and $25.00 price target on D.R. Horton, Inc. (NYSE: DHI).

In the report, Sterne Agee noted, “We reiterate our Buy rating on DHI. Today’s announcement was a surprise as was the brevity of Mr. Tomnitz’s transition period to the new CEO, David Auld. Mr. Auld has over 25 years’ experience at DHI and Chairman Donald Horton is remaining in his current role so we expect the transition should not impact current operations.”

D.R. Horton, Inc. closed on Tuesday at $20.48.

Posted-In: Jay McCanless Sterne AgeeAnalyst Color Reiteration Analyst Ratings