Can this week’s earnings beat by US homebuilder D.R. Horton Inc (DHI US) spark some domestic interest in the sector

This week saw DHI beat downbeat analyst expectations which have seen the stock make fresh 12 months highs e.g. consolidated revenue increased 3% to $US7.3bn. If this American builder can continue to deliver “ok” results during these tough times we believe it’s laying excellent foundations when interest rates and the economy stabilise however we wouldn’t be chasing the stock to fresh highs when 27% of its gross sales orders were cancelled for the 1^st quarter of 2023.

• We believe DHI is likely to encounter some selling as it tests above $US100 the stock looks good into pullbacks.