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The outlook for the US real estate market is not optimistic. Lennar Corp (LEN.US) and D.R. Horton (DHI.US) were downgraded by Citigroup.
According to the Zhitong Finance APP, the stocks of several American residential builders fell on Tuesday, after Citigroup lowered the ratings of Lennar Corp (LEN.US) and D.R. Horton (DHI.US), citing a potential continued weakness in the US real estate market for the rest of the year. Citigroup downgraded Lennar Corp from Buy to Neutral, with a target price of $164, down from $174, and downgraded D.R. Horton from Buy to Neutral, with a target price of $156, down from $181. Citigroup also lowered the ratings of Forestar Group (FOR.US), PulteGroup (PHM.US), and Toll Brothers.
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