NEW YORK (TheStreet) -- DR Horton (DHI) shares are up 3.2% to $24.59 on Monday after analysts at Barclays (BCS) upped its price target to $34 from $28.
The improved valuation stems from a jump in pending home sales data that combats manufacturing data that was below market expectations.
The new price target suggests a 42% upside for the company's stock.
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TheStreet Ratings team rates D R HORTON INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate D R HORTON INC (DHI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, attractive valuation levels, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."