Ticonderoga Maintains a 'Neutral' on Lennar (LEN); First Look – Respectable; SG&A Improvement, But Order Acceleration Will be Key
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Price: $86.83 -0.81%
Rating Summary:
13 Buy, 14 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 14 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ticonderoga maintains a 'Neutral' on Lennar (NYSE: LEN).
Ticonderoga analyst says, "LEN turned in results about as good as we could expect during this slowing housing environment. We liked the renewed focus on taking costs out of Corporate, which helped SG&A nicely. Rialto performed a touch better. However, until LEN can get absorption rates above 2008 and 2009 levels, sustained profits will be difficult at the homebuilding level. Regardless, investors will embrace today’s results to a greater degree than we will and we expect the equity will perform well."
For more ratings news on Lennar click here and for the rating history of Lennar click here.
Shares of Lennar closed at $18.10 yesterday.
Ticonderoga analyst says, "LEN turned in results about as good as we could expect during this slowing housing environment. We liked the renewed focus on taking costs out of Corporate, which helped SG&A nicely. Rialto performed a touch better. However, until LEN can get absorption rates above 2008 and 2009 levels, sustained profits will be difficult at the homebuilding level. Regardless, investors will embrace today’s results to a greater degree than we will and we expect the equity will perform well."
For more ratings news on Lennar click here and for the rating history of Lennar click here.
Shares of Lennar closed at $18.10 yesterday.
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