JPMorgan analyst Michael Rehaut lowered the firm’s price target on Lennar (LEN) to $92 from $97 and keeps a Neutral rating on the shares following the fiscal Q3 report. The company pointed to a continued softening of market conditions during Q3 and eased delivery expectations to help establish a floor on margin,” the analyst tells investors in a research note. The firm reduced estimates following the earnings print.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LEN:
- Lennar price target raised to $133 from $116 at Citi
- Humana initiated, Paycom upgraded: Wall Street’s top analyst calls
- Lennar price target raised to $106 from $98 at RBC Capital
- Lennar price target raised to $140 from $130 at Citizens JMP
- Lennar downgraded to Underperform from Market Perform at Raymond James