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Barclays Maintains an 'Overweight' on Lennar (LEN); Adjusting PT & Estimates on Q1 Results

March 28, 2012 12:51 PM EDT
Get Alerts LEN Hot Sheet
Price: $171.98 +2.07%

Rating Summary:
    24 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Barclays maintains an 'Overweight' on Lennar (NYSE: LEN) price target raised from $32 to $34.

Analyst, Stephen Kim, said, "Following 1Q12 results, we are raising our price target to reflect our increased adjusted tangible book value estimate and higher earnings power estimate. Additionally, we are revising our FY12 estimate to $0.81 from $0.80 and FY13 estimate to $1.16 from $1.24 to reflect an increased diluted share count and normalized tax rate...The key takeaway from the quarter for us was Lennar's ability to raise prices in most of its communities."

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 $27.63 yesterday.


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