Barclays Capital upgraded the stock of homebuilder D.R. Horton Inc. and signaled expectation for recovery in the U.S. housing sector in 2012, and raised 2012 earnings estimates and price targets for a host of other U.S. homebuilders.
"It has become increasingly apparent to us that the pieces for a rebound next year are beginning to fall into place -- chief among them being a stabilization in prices for non-distressed home transactions," the brokerage said in a note.
In addition, Barclays, which initiated coverage on the sector about two months back, said economic indicators--including job creation, delinquencies, housing starts, homebuyer traffic and consumer sentiment--also showed that the housing industry was stabilizing.
(More on Barclays housing hopes . . . )
