Lennar price target lowered to $77 from $90 at BTIG

BTIG lowered the firm’s price target on Lennar (LEN) to $77 from $90 and keeps a Sell rating on the shares. The company’s earnings call commentary and Q2 guide indicated weak market conditions have continued year-to-date, at least in the company’s markets, and the outlook is clouded by sidelined institutional single family rental investors and the conflict in the Middle East, the analyst tells investors in a research note.