Citi Upgrades Lennar (LEN) to Buy; Near-Term News Flow to Remain Positive
More News related to LEN
- Lennar's Presentation at the UBS Building & Building Products Seventh Annual CEO Conference To Be Webcast Live
- Homebuilders Very Strong as Toll's Better-Than-Expected Results Bode Well for the Group (TOL, XHB, DHI, LEN, more)
- Credit Suisse Upgrades Lennar (LEN) to Outperform
- Homebuilders Fall Amid Sharp Decline in New Home Sales, Concerns About Possible Extension of Home Buyer Tax Credit
- Beacon Equity Issues Trading Outlook for Beazer Homes USA Inc.
Citi upgrades Lennar (NYSE: LEN) from Hold to Buy. Price target increased from $11 to $12.
Citi analyst says, "At ~0.6x current P/BV, LEN trades at a ~50% discount to its peers. We expect that valuation gap to narrow in the coming months given the company's improved near-term liquidity profile...While LEN remains one of the riskier names in our coverage universe, we think LEN's recent $400 million debt issuance materially improves its near-term liquidity profile. The company's beefed-up cash position significantly reduces the risk that LEN will not make it through the housing downturn."
To see more analyst ratings on LEN Click Here.
Lennar Corporation is a homebuilder and a provider of financial services. The Company operates in four segments: Homebuilding East, Homebuilding Central, Homebuilding West and Homebuilding Houston.
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