LEN - Lennar's Agile Strategy In Challenging Market Yields Growth: Analyst Boosts Price Target By 10% | Benzinga
Raymond James analyst Buck Horne reiterated an Outperform rating on the shares of Lennar Corp (NYSE: LEN) raised the price target from $150 to $165.
Lennar reported core EPS of $5.17 for its F4Q23 results, topping estimates of $4.59.
Another upside quarterly result and a well-timed reprieve in mortgage rates stand to unlock significant pent-up demand this spring, says the analyst.
However, in 4Q, Lennar had to battle a much tougher affordability equation as mortgage rates flirted with the 8% threshold in October, adds the analyst.
The housing market briefly appeared near a tipping point in October, as buyers increasingly struggled with ...