Lennar price target lowered to $95 from $110 at Barclays

Barclays lowered the firm’s price target on Lennar (LEN) to $95 from $110 and keeps an Equal Weight rating on the shares following the Q2 report. The company is committed to production as demand tapers, the analyst tells investors in a research note. The firm says that while success on construction cost control helps to stabilize gross margin, average selling price is softening with elevated spending, leading to earnings pressure.