Truist lowered the firm’s price target on Lennar (LEN) to $95 from $110 and keeps a Hold rating on the shares following Q1 results. Truist thinks Lennar is really feeling the effects of its expensive land banking strategy relative to the other builders. Overall, geopolitical overhangs and the land banking risk keeps the firm on the sidelines for Lennar, and Truist believes it will take positive headlines to get the stock moving in the right direction, the firm told investors in a research note.
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