UPDATE: MKM Partners Upgrades Lennar (LEN) to Buy; Support for Premium Valuation

July 13, 2012 9:39 AM EDT
Get Alerts LEN Hot Sheet
Price: $43.85 +0.27%

Rating Summary:
    19 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - July 13, 2012 10:47 AM EDT)

MKM Partners upgraded Lennar (NYSE: LEN) from Neutral to Buy. PT raised from $31 to $36.

Analyst, Megan McGrath, said, "Our price target is based on 1.90x one-year forward book value plus the remainder of the company’s off-balance sheet DTA. While a 1.9x book value multiple is above the historical average, we believe that our view of near-term continued positive trends in housing combined with our expectation that Lennar will continue to outperform from an operational perspective supports this valuation."

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 $31.06 yesterday.

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