Argus Starts Lennar (LEN) at Buy

Argus initiates coverage on Lennar (NYSE: LEN) with a Buy rating and a price target of $59.00.

In addition to the firm's favorable housing market outlook, they see Lennar's results aided in coming years by its strong geographic presence and creative home and marketing ideas.

They set FY16 EPS forecast at $4.00, up 15.6% from $3.46 in FY15. They project a further 13.8% rise in FY17, to $4.55.

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 $46.42 yesterday.

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