UPDATE: ISI Raises D.R. Horton's PT

According to a research report published this morning, ISI has increased D.R. Horton's (NYSE: DHI) PT from $17 to $17.50.

ISI commented in the report, "After turning in an excellent quarter, top to bottom, DHI conducted a fairly typical conference call, which is to say, conservatism abounded. This early in the cycle, we prefer that conservatism, however, the market felt a bit differently, taking the equity from a group outperformer to an underperformer. We believe investors are being presented an excellent opportunity for equity ownership. DHI is now firmly profitable operationally; thus separating itself from the pack."

ISI maintains its Buy rating on D.R. Horton, which closed yesterday at $15.06.