jp morgan analyst michael rehaut cut his price targets on a host of home builders stocks saying investors are likely to remain concerned about the sustainability of current demand given the continued rise in interest rates the ishares us home construction etf itb rose 20 in midday trading wednesday but has tumbled 294 since closing at a record 8304 on dec 12 2020 in comparison the sp 500 spx has lost 61 over the same time meanwhile several home builders are expected to report quarterly results over the next couple weeks regarding our sector view into earnings we do not expect any material or sustained rebound in the stocks this earnings season rehaut wrote in a note to clients among the larger capitalization stocks in the sector rehaut cut his stock price targets for dr horton inc dht to 8250 from 10000 for lennar corp len to 89 from 108 for nvr inc nvr to 4770 from 5300 for pultegroup inc phm to 48 from 57 and for toll brothers inc tol to 51 from 58