FBR Capital Raises Price Target on Lennar Corp. (LEN) Following 2Q15 Results

FBR Capital reiterates an Outperform rating on Lennar (NYSE: LEN), and raised the price target to $59.00 (from $57.00), following LEN's 2Q15 results. LEN reported EPS of $0.79, which exceeded consensus of $0.64.

Analyst Patrick Kealey commented, "We are reiterating our Outperform rating and increasing our price target to $59 from $57 following the release of LEN's 2Q15 earnings. LEN once again reported a strong quarter, driven by closing growth as well as improved SG&A leverage, and we continue to view the firm as one of the best positioned platforms to capitalize on U.S. housing improvement. The company should continue to drive returns higher via management's transition towards a more asset-efficient homebuilding model, while LEN's multifamily unit will likely capitalize on greater household formation by younger adults."

For an analyst ratings summary and ratings history on Lennar click here. For more ratings news on Lennar click here.

Shares of Lennar closed at $51.06 yesterday.

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