UPDATE: Sterne Agee Maintains Lennar Corporation at Neutral Following Yesterday's EPS Beat

In a report published by Sterne Agee, analyst Jay McCanless maintained his Neutral rating and $45 price target on Lennar Corporation

. 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.