Lennar price target raised to $240 from $237 at Evercore ISI

Evercore ISI raised the firm’s price target on Lennar to $240 from $237 and keeps an Outperform rating on the shares. A “sullen, brooding sentiment had descended on the housing stocks over the past few months,” but the firm rebuts industry concerns and raised FY25 margin estimates and target prices for the builders under its coverage to reflect lower buyer agent commissions.