BUZZ-D.R. Horton slips after J.P. Morgan downgrades stock to 'underweight', cuts PT

Reuters12-13
BUZZ-D.R. Horton slips after J.P. Morgan downgrades stock to 'underweight', cuts PT

** Shares of U.S. homebuilder D.R. Horton DHI.N down 1% at $149.69 in premarket trading

** J.P. Morgan downgrades stock to "underweight" from "neutral"; cuts PT to $156 from $188

** Brokerage expects the stock to underperform compared to its peers over the next 12 months

** "Based on our view its (DHI's) relative valuation is expensive compared to our relative fundamental outlook" - J.P. Morgan

** Ten of 22 brokerages rate the stock "buy" or "higher", 10 "hold" and two "sell"; with a median PT of $190, according to data compiled by LSEG

** As of last close, shares down about 0.5% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

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