Truist analyst Jonathan Bettenhausen lowered the firm’s price target on Lennar (LEN) to $95 from $110 and keeps a Hold rating on the shares. The firm notes that the company is really feeling the effects of its expensive land banking strategy relative to other home builders, also stating that the downside risks on demand are still present, the analyst tells investors in a research note. Lennar could also be forced to boost incentives once again to prevent inventory builds, Truist adds.
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- Lennar price target lowered to $95 from $110 at Truist