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HOV Stock Forecast: How Much More can Hovnanian Climb?

This HOV Stock Forecast article was written by Meiru Zhong – Financial Analyst at I Know First.

There is a marked improvement in Hovnanian’s home sales as its ROE has rebounded from the trough, increasing by 15.2% in Q1 2023.
Although the housing demand is decelerated due to the uncertain economic outlook, the supply-demand mismatch is expected to drive HOV stock price to appreciate.
HOV attempts to reduce unnecessary costs, increase advertising expenses, offer favorable mortgage rates, and raise community counts to improve performance in 2023.
DCF values HOV stock price at $97, with 49% upside potential and technical analysis also supports this bullish forecast.