Ticonderoga Maintains a 'Neutral' on Lennar (LEN); First Look – Respectable; SG&A Improvement, But Order Acceleration Will be Key
Tweet
Share
E-mailGet Alerts LEN Hot Sheet
Price: $87.02 +1.87%
Rating Summary:
13 Buy, 14 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
13 Buy, 14 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Clear Street Reiterates Buy Rating on Anterix Inc. (ATEX)
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
