UPDATE: Goldman Sachs Upgrades Lennar (LEN) to Buy

December 1, 2021 2:47 AM EST
Get Alerts LEN Hot Sheet
Price: $85.65 --0%

Rating Summary:
    21 Buy, 10 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 5 | Down: 15 | New: 12
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(Updated - December 1, 2021 4:55 AM EST)

Goldman Sachs analyst Susan Maklari upgraded Lennar (NYSE: LEN) from Neutral to Buy with a price target of $140.00 (from $108.00).

The analyst comments "In line with its ongoing efforts to unlock the full value of ancillary investments made over time, earlier this year, Lennar announced plans to spin-off its non-core assets. This will likely as per company commentary include its single and multi-family rentals, select land parcels, and potentially a portion of its housing related technology investment arm known as LENX. Although details of the potential transaction are limited, impacting our ability to assess its true value, we see positive developments as an additional catalyst for the stock, supporting the potential for meaningful multiple expansion."

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 $108.82 yesterday.

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