Lennar price target raised to $135 from $115 at BofA

BofA analyst Rafe Jadrosich raised the firm’s price target on Lennar (LEN) to $135 from $115 and keeps a Neutral rating on the shares. The firm is updating its price targets for homebuilders under its coverage, the analyst tells investors. BofA believes the recent Fed cut is unlikely to meaningfully change the near-term trajectory of the housing market.