Lennar price target raised to $210 from $170 at JMP Securities

JMP Securities raised the firm’s price target on Lennar to $210 from $170 and keeps an Outperform rating on the shares. Lennar’s Q3 normalized EPS beat consensus estimates, with outperformance driven by 731 more deliveries than the firm anticipated, the analyst tells investors in a research note. With community count expected to grow at an outsized pace near-term combined with an improving rate environment for homebuyers and a more efficient structure post-REIT spin, JMP believes Lennar is well-positioned to create value for shareholders over the next 12-24 months.