Compass Point Reiterates a 'Neutral' on Lennar (LEN); Near-Term Opportunity on Rialto
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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
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Compass Point reiterates a 'Neutral' on Lennar (NYSE: LEN) price target raised from $21.50 to $25.00.
Analyst, Wilkes Graham, said, "The company continues to execute on its strategy of finding attractive land deals in well positioned submarkets as evidenced by consistent order and margin growth without the help of additional incentives or weaker pricing, and we are increasingly confident that earnings from Rialto will benefit cash flows in the coming years. Our new price target of $25 assumes a 7% ROI against what we now expect to be a 9.4% ROE in 2013, as well as a 1-year discount horizon on the deferred tax asset."
As far as the 'Neutral' stance, Wilkes remains cautious on the homebuilding space and is waiting to see a 'material increase' in starts/sales. FY12 EPS cut from $0.87 to $0.82.
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 $25.83 yesterday.
Analyst, Wilkes Graham, said, "The company continues to execute on its strategy of finding attractive land deals in well positioned submarkets as evidenced by consistent order and margin growth without the help of additional incentives or weaker pricing, and we are increasingly confident that earnings from Rialto will benefit cash flows in the coming years. Our new price target of $25 assumes a 7% ROI against what we now expect to be a 9.4% ROE in 2013, as well as a 1-year discount horizon on the deferred tax asset."
As far as the 'Neutral' stance, Wilkes remains cautious on the homebuilding space and is waiting to see a 'material increase' in starts/sales. FY12 EPS cut from $0.87 to $0.82.
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 $25.83 yesterday.
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