Research Alert: CFRA Keeps Sell View On Share Of Nvr, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We revise our 12-month target price to $6,100 from $7,158, 14.5x our 2027 EPS view, near the 10-year mean. We lower our 2027 EPS view to $420.72 from $461.28 and 2026 to $405.94 from $421.05. We think NVR's volume comps will be a somewhat easier hurdle to clear in 2026. However, we believe ASP and margin expectations are quite optimistic for 2026 and 2027, given the strong 2025 net order average selling price vs. peers, which we attribute to its low overlapping footprint with peers. We expect the consumer to be cautious of home purchases due to high home prices. Meanwhile, the longer end of the yield curve faces upward pressure from growing U.S. debt, which could offset relief from rate cuts on mortgage rates. We see the market pricing some of this in with shares trading at a 30% premium to peers vs. its historical 70% premium. NVR has room to support its shares via repurchases as its balance sheet has $1.9B in cash and we expect a stable labor market to support $1.2B in FCF generation in 2026 and 2027.

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We revise our 12-month target price to $6,100 from $7,158, 14.5x our 2027 EPS view, near the 10-year mean. We lower our 2027 EPS view to $420.72 from $461.28 and 2026 to $405.94 from $421.05. We think NVR's volume comps will be a somewhat easier hurdle to clear in 2026. However, we believe ASP and margin expectations are quite optimistic for 2026 and 2027, given the strong 2025 net order average selling price vs. peers, which we attribute to its low overlapping footprint with peers. We expect the consumer to be cautious of home purchases due to high home prices. Meanwhile, the longer end of the yield curve faces upward pressure from growing U.S. debt, which could offset relief from rate cuts on mortgage rates. We see the market pricing some of this in with shares trading at a 30% premium to peers vs. its historical 70% premium. NVR has room to support its shares via repurchases as its balance sheet has $1.9B in cash and we expect a stable labor market to support $1.2B in FCF generation in 2026 and 2027.