Lennar price target raised to $144 from $130 at Wedbush

Wedbush analyst Jay McCanless raised the firm’s price target on Lennar to $144 from $130 and keeps a Neutral rating on the shares following quarterly results. The firm says that its post call bottom line is the selloff in Lennar shares and competitors on March 14th was caused by a stronger than expected producer price index report, Lennar’s Q2 guidance below its and the Thomson consensus gross margin forecast, and Lennar’s comments on the Q1 call that mortgage rates may remain near current levels for the near-term. Wedbush also believes Lennar’s views that inflation may not have peaked potentially contributed to the selloff as well.