Citi raised the firm’s price target on Lennar to $148 from $139 and keeps a Buy rating on the shares. The analyst updated estimates to reflect stronger May and June demand and an improved margin outlook due to stronger prices and decelerating costs. There are two “powerful secular tailwinds” that should allow homebuilders to meaningfully beat national housing data: new home sales are gaining share from existing home sales and large public builders are gaining share from smaller private builders, says Citi.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on LEN:
- Homebuilder Stocks Keep Soaring. Which is the Best Homebuilder ETF?
- XHB: This Homebuilder ETF is Quietly Surging. Can It Continue?
- Homebuilders, Construction Stocks Soar as Home Prices Increase
- D.R. Horton price target raised to $135 from $120 at Argus
- Lennar Corporation Declares Quarterly Dividends