Barclays cuts PT on US homebuilders amid macro uncertainty

Lennar

08/04/2026 14:00

** Barclays cuts price target on U.S. homebuilders

** Brokerage says geopolitical tensions, higher rates and broader economic uncertainty are weighing on consumers into a vital period of the spring selling season

** Homebuilders could be set for another 'lost year' with waning consumer demand and new inflation in construction materials coming at just the wrong time - Barclays

** Adds that it assumes more challenged demand, higher mortgage rates and still-elevated inventories may force builders to lean harder on incentives

** Following are the new PTs:

Company name
New PT
Old PT
D.R. Horton DHI.N
$128
$129
Lennar LEN.N
$80
$85
Toll Brothers TOL.N
$115
$116
PulteGroup PHM.N
$112
$115
Taylor Morrison TMHC.N
$68
$70

 (Reporting by Parth Chandna)

 ((Parth.Chandna@thomsonreuters.com;))