Wells Fargo analyst Sam Reid has maintained their neutral stance on LEN stock, giving a Hold rating today.
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Sam Reid’s rating is based on a combination of factors that reflect both positive and cautious elements in Lennar’s recent performance. The company delivered a better-than-expected second quarter, with gross margins aligning with guidance and surpassing estimates, which is a positive indicator. However, the sales, general, and administrative expenses were higher than anticipated, which raises some concerns about cost management.
Additionally, while Lennar’s order and delivery numbers were within the guided range, they slightly trailed behind some expectations, which suggests a cautious outlook. The guidance for the third quarter also indicates slightly lower order and delivery estimates compared to market expectations, which contributes to the Hold rating. Overall, while there are positive aspects in Lennar’s performance, the uncertainties and slight discrepancies in cost and future projections justify a cautious stance.
In another report released today, KBW also maintained a Hold rating on the stock with a $128.00 price target.