UPDATE: Sterne Agee Maintains Lennar at Neutral Following Wednesday's EPS Beat
In a report published by Sterne Agee, analyst Jay McCanless maintained a Neutral rating and $45 price target on Lennar Corporation (NYSE: LEN).
Sterne Agee reported that, “We were encouraged by yesterday's earnings conference call because Lennar maintained FY13 gross margin guidance of 23% to 24% and reaffirmed FY13 community count growth estimates of approximately 20%. At current levels, we view LEN as fairly valued, but we believe the Company's growth prospects are among the strongest in the peer group.”
Shares of Lennar Corporation closed at $43.40 on Wednesday.
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